Valhalla

Recently gaining investor attention with its short-term bull run, <a href="https://21milyon.com/coin/xrp" target="_blank" rel="noopener" data-wpel-link="exclude">Ripple</a>&#8216;s XRP soared to a two-month peak of $0.5658 before stalling at a crucial resistance level. The popular <a href="https://en.coin-turk.com/" target="_blank" rel="noopener" data-wpel-link="internal">altcoin,</a> currently trading around $0.5156, is under close watch. Esteemed crypto analyst, EGRAG CRYPTO, emphasizes that XRP has entered the accumulation phase, with a potential rally leading towards a zone known as &#8220;Valhalla,&#8221; which could eventually catapult XRP to $50. 
<h2 style="text-align: justify;" id="next-target-for-xrp-could-be-2">Next Target for XRP Could Be $2</h2>
EGRAG CRYPTO&#8217;s bullish XRP analysis relies on a weekly price chart, with various resistance levels denoted in color codes. In the current scenario, to move towards higher price levels, XRP needs to cross the yellow zone, located below $0.73. 
The analyst underscores the importance of the price entering the &#8220;white area,&#8221; a zone ranging from $0.73 to $2, which is expected to trigger a potential sharp rise in XRP. However, until XRP successfully surpasses this resistance level, it may remain under the pressure of a downtrend that could continue till the first quarter of 2024. 
<img decoding="async" loading="lazy" class="aligncenter wp-image-84408 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/06/xrp-11.png" alt="" width="1964" height="892" srcset="https://en.coin-turk.com/wp-content/uploads/2023/06/xrp-11.png 1964w, https://en.coin-turk.com/wp-content/uploads/2023/06/xrp-11-300x136.png 300w, https://en.coin-turk.com/wp-content/uploads/2023/06/xrp-11-768x349.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/06/xrp-11-1536x698.png 1536w, https://en.coin-turk.com/wp-content/uploads/2023/06/xrp-11-1200x545.png 1200w" sizes="(max-width: 1964px) 100vw, 1964px" />
Despite this bearish outlook, EGRAG CRYPTO believes XRP has the potential to ascend within the Valhalla zone, with prices ranging from $2.8 to $4.6. This surge corresponds to Wave 1 in the macro chart, which may retreat to potentially $1 before making a significant price move to commence Wave 3. In the Elliott Wave Theory, Wave 3 is typically 1.618 times, even sometimes 2.618 times the length of Wave 1, affirming the analyst&#8217;s hypothesis. EGRAG CRYPTO sets a $12 and even $50 target for XRP&#8217;s Wave 3. 
<h2 style="text-align: justify;" id="could-xrp-reach-50">Could XRP Reach $50?</h2>
For XRP to reach the projected $50 level, it currently faces a significant hurdle, requiring an impressive rally of approximately 9,600%. The altcoin faced a reclassification by the SEC in 2020, causing heavy losses for all investors by alleging that XRP was a security, and Ripple, along with two of its senior executives, engaged in an unregistered securities sale. 
<img decoding="async" loading="lazy" class="aligncenter wp-image-84409 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/06/ripple-3.png" alt="" width="1966" height="908" srcset="https://en.coin-turk.com/wp-content/uploads/2023/06/ripple-3.png 1966w, https://en.coin-turk.com/wp-content/uploads/2023/06/ripple-3-300x139.png 300w, https://en.coin-turk.com/wp-content/uploads/2023/06/ripple-3-768x355.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/06/ripple-3-1536x709.png 1536w, https://en.coin-turk.com/wp-content/uploads/2023/06/ripple-3-1200x554.png 1200w" sizes="(max-width: 1966px) 100vw, 1966px" />
As the SEC vs. Ripple lawsuit draws to a close, the anticipated release of the Hinman documents on June 13, following the permission granted to Ripple&#8217;s attorney for access to the documents, hasn&#8217;t significantly influenced the ongoing lawsuit, posing a positive sign for investors. Ripple CEO, Brad Garglinghouse, criticized the SEC&#8217;s regulatory policies in a tweet regarding the document release. 
The post <a rel="nofollow" href="https://en.coin-turk.com/ripples-xrp-poised-for-surge-analyst-predicts-a-leap-to-50/" data-wpel-link="internal">Ripple&#8217;s XRP Poised for Surge: Analyst Predicts a Leap to $50</a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Ripple’s XRP Poised for Surge: Analyst Predicts a Leap to $50

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