The XRP price could be primed for a parabolic surge to double digits, which would mark a new all-time high (ATH) for the altcoin. This comes as crypto analyst Waters Above predicted that an ‘XRP Summer,’ during which XRP is expected to record this massive price surge.
Analyst Predicts XRP Price Surge To $15 During ‘XRP Summer’
In an X post, Waters Above told the XRP Army that an XRP Summer is about to happen and that the altcoin will reach $15 by July 24th. In his accompanying chart, the analyst alluded to the 2017 cycle, while revealing that the altcoin is currently at the stage where price was in that cycle before it rallied to the current all-time high of $3.84.
This XRP price rally to $15 is expected to form part of the Wave 5 impulsive move to the upside, with this Elliot Wave Theory analysis spanning over seven years. The chart suggested that the altcoin could top at that $15 and then begin another consolidation phase before it then rallies to a new ATH.
In an earlier X post, Waters Above gave a breakdown of how the XRP price could rally to this double-digit target. He declared that the bottom of XRP should be in by June 4th to 6th. The crypto analyst also informed market participants that, after June 18th, they can expect a straight-line breakout to $10. This rally to $10 aligns with the recent $15 prediction by July 24th.
Crypto analyst CryptoInsightUk stated that the XRP price must crash first before it rallies to double digits. He suggested that the altcoin could still drop to between $2.01 and $1.95 to flush out leveraged longs. Once that happens, he claimed that a rally toward $10 can begin.
July Would Mark The Cycle Top For XRP
In an X post, crypto analyst Egrag Crypto alluded to a previous analysis in which he predicted that July 21 would mark the cycle top for the XRP price. In that analysis, he stated that the altcoin seems to be on track to reach its cycle peak by July 21 this year. The analyst added that if the 110-day offset still holds, then the cycle peak could extend to November 9 later in the year.
However, Egrag Crypto still expects the XRP price to fly “so high” in July. His accompanying chart showed that the average target is $29. Meanwhile, the chart also showed that XRP could record a 2,500% gain and rally to as high as $46. The minimum target for the altcoin on this projected rally is $12.
At the time of writing, the XRP price is trading at around $2.23, up over 1% in the last 24 hours, according to data from CoinMarketCap.
Featured image from iStock, chart from Tradingview.com
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