The potential for the XRP price to soar towards double digits has caught the attention of many investors, signaling a promising period ahead for the cryptocurrency. Analysts are buzzing about an impending ‘XRP Summer,’ anticipating significant price movements that could see XRP achieving new all-time highs.
Expert Forecasts XRP Price Reaching $15 by Late July
In a recent social media post, analyst Waters Above projected that XRP is on the brink of an explosive surge, predicting a price point of $15 by July 24th. His analysis draws parallels to past market cycles, particularly highlighting the 2017 trajectory as a potential template for the current market conditions.
According to the analyst, this upward movement towards $15 is part of a Wave 5 in Elliott Wave Theory, which spans over several years of market analysis. The expectation is that following this peak, XRP may enter a consolidation phase before embarking on another rally.
Earlier insights from Waters Above suggested that the bottom for XRP might be reached between June 4th and 6th, indicating a setup for a robust rally. Following June 18th, he hinted at a potential direct breakout toward $10, a critical milestone en route to the later forecast of $15.
Another analyst, CryptoInsightUk, posits that XRP may experience a dip below $2 before the anticipated breakout. This strategy aims to weaken leveraged positions, setting the stage for a subsequent rally towards double digits.
July as a Crucial Period for XRP’s Price Movement
Additionally, crypto analyst Egrag Crypto suggested in a recent update that the cycle top for XRP could occur on July 21. Reflecting on previous predictions, he noted that if previous patterns hold, we might see a peak extending to November 9 this year.
However, Egrag Crypto remains optimistic, expecting XRP price movements to be substantial in July. His projections indicate potential targets averaging around $29, suggesting a remarkable possible gain of up to 2,500%—with the altcoin potentially reaching figures as high as $46. The minimum target on this bullish trajectory is set at $12.
As of now, XRP is trading at approximately $2.23, showing modest growth of over 1% in the past 24 hours, according to CoinMarketCap data.
