XRP Price Trend Lays The Foundation For A Measured Move To $11-$22

• The measured movements in the price of XRP suggest it could be due for an $11 or even $22 top in the current bull cycle.
• Reinforcing the optimistic prediction is the strong momentum in XRPL adoption.

XRP Price to $11-$22

The recent pullback in XRP price indicates a tectonic shift in the fundamentals of technical analysis. According to Egrag Crypto, one of the analysts who correctly predicted the token’s rebound above the dollar in November last year, logarithmic measured moves have proven themselves to be more reliable analytical tools than linear patterns in interpreting chart data.

The analyst admitted that his take may not sit well with everyone, but recent chart formations or patterns have considerably evolved based on the cryptocurrency market’s exponential growth trajectory. In some cases, he claimed that the results have often overshot his targets when applying the technique. Hence, in the present context, it’s more precise when determining future upturn and downturn with respect to the maturing market.

Drawing from that premise, Egrag’s assessment based on the measured move of XRP price plots $11 as its potential top. However, if it falls short of the linear falling wedge formation, as it did in 2023, the peak of the current bull cycle could tap the $22 mark.

ADVERTISEMENTMeanwhile, in a subsequent post, the analyst suggested that the XRP price closing above $3.30 will confirm its bullish track.

XRP Adoption Continues to Grow

Beyond the technical trends, some factors could reinforce XRP’s fundamental growth. One is the increasing adoption of XRP Ledger (XRPL) distributed ledger technology (DLT) solutions in various industries.

A major player recently entered the XRP ecosystem after recognizing the crypto asset’s advantages as a payment instrument and profit-generating mechanism. Wellgistics Health, a Nasdaq-listed company with over $67 million market cap, just filed with the US Securities and Exchange Commission (SEC) to publicly disclose the integration of XRP in its business model.

ADVERTISEMENTThe healthcare technology and pharmaceutical logistics company aims to streamline its financial and operational framework using XRPL and its native token, XRP. First, it plans to hedge its treasury reserve in the token to secure it against dollar devaluation and economic uncertainties. Then, the company wants to tap into its network to enable fast, secure, transparent, and low-cost transactions with pharmacy customers, partner vendors, manufacturers, and suppliers.

The latest development adds to the growing line of traditional finance players entering the XRP ecosystem, further reinforcing its role as a bridge in the future of payments and treasury operations.

What’s your Reaction? +1 0 +1 0 +1 1 +1 0 +1 0 +1 0 +1 0

ADVERTISEMENT