Is XRP’s 60% Correction the Last Chance to Buy Before $10? Analysts Weigh In

TLDR:

• XRP completed a 600% rally from $0.60 after breaking a four-year descending wedge pattern 
• Analysts placed strategic buy orders between $0.70-$0.80 targeting liquidity sweeps in accumulation zone 
• Price targets range from $3.50 to $10+, with historical cycles suggesting potential move to $27 
• Monthly chart holds critical support at $1.60, maintaining bullish structure despite 60% correction
  

XRP has plunged 60% from its recent all-time high of $3.66, creating what some technical analysts view as a compelling accumulation opportunity before a potential move toward $10.

The cryptocurrency is currently trading within a critical re-accumulation zone after completing a breakout from a four-year descending wedge pattern.

Market observers are debating whether this significant pullback represents an optimal entry point for investors targeting double-digit price levels in the current market cycle.

Strategic Entry Zones Emerge After Sharp Correction

Crypto analyst Patel identifies the current price action as a strategic buying opportunity despite the steep decline from peak levels.

XRP successfully breached a four-year descending wedge resistance, confirming a macro trend reversal that generated a 600% rally from the $0.60 breakout zone.

The asset now trades within what Patel characterizes as a Fair Value Gap and re-accumulation phase between $1.50 and $1, forming a foundation for potential continuation.

The analyst maintains that the higher timeframe bullish structure remains fully intact as long as XRP holds above the $1 level.

He has positioned a strategic limit buy order between $0.80 and $0.70 to capture potential liquidity sweeps into deeper discount levels.

This approach targets areas where smart money might accumulate positions before another leg higher. The current 60% correction from the all-time high presents what Patel views as an attractive risk-reward setup for patient investors.

Patel’s price projections outline an ambitious roadmap with multiple targets on the path to $10 and beyond. The first target sits at $3.50, followed by $5.00 and $8.70, with the ultimate target exceeding $10.

These levels represent potential resistance zones where profit-taking could occur during an extended bull run. The bullish thesis would be invalidated only if XRP posts a weekly close below $1.30, which would negate the current accumulation narrative.

The 60% decline from all-time highs has created what the analyst frames as a rare buying window for those willing to enter during periods of uncertainty.

Rather than viewing the correction as a sign of weakness, this perspective treats it as a natural consolidation phase within a larger uptrend.

Investors following this analysis are watching for either continued support at current levels or a deeper retest of the $0.70 to $0.80 zone.

Historical Patterns Suggest Path to Double Digits

Analyst Egrag Crypto reinforces the bullish case through monthly chart analysis that draws parallels to previous market cycles.

XRP recently tested the central line combined with the 33-period Exponential Moving Average around $1.60 to $1.61, briefly wicking to $1.50 before recovering.

The cryptocurrency held its monthly close above $1.60 and opened February at $1.66, maintaining critical technical support during the correction.

Egrag Crypto presents two scenarios that could unfold on the path to $10. Path A involves a double liquidity grab where XRP bounces initially before experiencing a second sweep lower, building structure for expansion.

Path B suggests direct expansion following historical cycle fractals from 2021 and 2017. Based on these patterns, the analyst projects potential gains of 340% reaching $7 or 1,600% climbing to $27 if history repeats.

The monthly chart behavior mirrors previous accumulation phases that preceded major rallies in earlier cycles. According to this analysis, the current price action represents only the first liquidity grab.

A relief bounce that fails to close above $2.40 would confirm a second liquidity grab scenario, establishing the structural foundation for movement toward the $10 target and beyond.

The analyst emphasizes that structure development must precede Exponential Moving Average confirmation before targets materialize.

Both technical perspectives converge on the notion that the 60% decline creates an opportunity rather than signaling trend failure.

The monthly close above key support levels and the maintenance of the breakout structure from the four-year wedge pattern provide the technical foundation for bullish projections.

Investors considering this opportunity must weigh the potential for further downside against the projected upside toward $10 and higher price levels.

The post Is XRP’s 60% Correction the Last Chance to Buy Before $10? Analysts Weigh In appeared first on Blockonomi.

Source: https://blockonomi.com/is-xrps-60-correction-the-last-chance-to-buy-before-10-analysts-weigh-in/