XRP Price Prediction: Analyst Sees Sharp Upsurge and Correction

A recent prediction from cryptocurrency analyst FCM suggests that XRP's price may be poised for significant movement in the coming weeks.

The analysis centers on the use of Elliott Wave structures, which are a method of technical analysis used to identify patterns and trends in market data. According to FCM, XRP's daily chart shows a repeating pattern of five-wave formations, with the current wave potentially nearing its completion.

This is accompanied by RSI (Relative Strength Index) readings that indicate a compression of momentum between overbought and oversold conditions. The analyst notes that similar patterns have preceded sharp price movements in the past.

Looking at a larger time frame, FCM projects a powerful advance for XRP, with the price potentially reaching $7.49 by June 22. Following this peak, the analysis suggests a corrective wave five decline to around $5.62 by July 20.