{"id":546041,"date":"2023-08-07T14:00:32","date_gmt":"2023-08-07T14:00:32","guid":{"rendered":"https:\/\/wncen.com\/?p=546041"},"modified":"2024-06-12T09:16:57","modified_gmt":"2024-06-12T09:16:57","slug":"xrp-journey-to-10-unveiling-the-forces-that-could-trigger-an-upward-momentum","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/xrp-journey-to-10-unveiling-the-forces-that-could-trigger-an-upward-momentum\/","title":{"rendered":"XRP Journey To $10: Unveiling The Forces That Could Trigger An Upward Momentum"},"content":{"rendered":"

XRP is currently undergoing a notable price correction, with a 24-hour decline of 2.2% and a seven-day slump of 12.1%, bringing its price to $0.61 according to CoinGecko.\u00a0<\/span><\/p>\n

However, amidst this downturn, prominent crypto YouTuber and XRP analyst, Alex Cobb, has set an ambitious price target of $10 for the digital asset, employing the Elliott Wave Theory to analyze its <\/span>monthly price chart<\/span><\/a>.<\/span><\/p>\n

Related Reading: PEPE\u2019s Future: Will Prices Of Meme Coins Continue To Drop?<\/a><\/div>\n

\"\"<\/p>\n

Source: Coingecko<\/pre>\n
Understanding Elliott Wave Theory<\/strong><\/h2>\n
Elliott Wave Theory is a technical analysis approach that seeks to predict price movements in financial markets by identifying recurring patterns in market sentiment. <\/span><\/p>\n
It is named after its creator, Ralph Nelson Elliott, who proposed that market prices unfold in repetitive patterns of five upward waves, called impulse waves, and three downward corrective waves. <\/span><\/p>\n
These waves are believed to reflect the psychology of market participants, alternating between optimism and pessimism.<\/span><\/p>\n
\"\"<\/p>\n
XRP\/USD 30-day price chart. Source: FXstreet\/TradingView<\/small><\/pre>\n
Amidst the bearish sentiment surrounding XRP, <\/span>Cobb’s prediction of a $10 price target <\/span><\/a>showcases his optimism and faith in the potential of the cryptocurrency.<\/span><\/p>\n
 Cobb’s application of Elliott Wave Theory to the monthly price chart of XRP has led him to believe that a significant upward movement is on the horizon, potentially taking the price to unprecedented levels.<\/span><\/p>\n
Ripple’s Expanding Ecosystem<\/strong><\/h2>\n
Despite the current market challenges, Ripple, the company behind XRP, has been making notable strides in expanding its ecosystem. A major boost came in the form of Ripple’s membership acquisition in the International Swaps and Derivatives Association (ISDA), granting access to a massive derivatives market.\u00a0<\/span><\/p>\n
This move has positioned Ripple among over a thousand member institutions from 79 countries, potentially opening new avenues for XRP’s adoption.<\/span><\/p>\n
<\/p>\n
XRP market cap at $32.6 billion on the daily chart: TradingView.com<\/a><\/pre>\n
Bullish Sentiment And Recent Developments<\/strong><\/h3>\n
Meanwhile, Ripple’s partial victory against the US Securities and Exchange Commission (SEC) has acted as a catalyst for bullish sentiment within the XRP community. <\/span><\/p>\n
With more clarity on XRP’s legal status as “not an investment contract,” Ripple has been able to focus on its developmental efforts and forge new partnerships. These developments, coupled with the company’s strides in technology and collaborations, drive the adoption of XRP tokens across various use cases.<\/span><\/p>\n
Related Reading: Shiba Inu: More Bite Than Bark Over The Weekend With Over 15% Jump<\/a><\/div>\n
A <\/span>recent analysis<\/span><\/a> reveals that XRP finds itself at a crucial juncture as it clings to the 50 Exponential Moving Average (EMA) support level. This level has historically provided strong support during market downturns, often acting as a springboard for price rebounds. <\/span><\/p>\n
While the current market conditions are challenging, the reliance on this support level gives hope to XRP enthusiasts that a potential price recovery might be on the horizon.<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from <\/span>Crypto News Flash<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
XRP is currently undergoing a notable price correction, with a 24-hour decline of 2.2% and a seven-day slump of 12.1%, bringing its price to $0.61 according to CoinGecko.\u00a0 However, amidst this downturn, prominent crypto YouTuber and XRP analyst, Alex Cobb, has set an ambitious price target of $10 for the digital asset, employing the Elliott Wave Theory to analyze its monthly price chart. Related Reading: PEPE\u2019s Future: Will Prices Of Meme Coins Continue To Drop? Source: Coingecko Understanding Elliott Wave Theory Elliott Wave Theory is a technical analysis approach that seeks to predict price movements in financial markets by identifying recurring patterns in market sentiment. It is named after its creator, Ralph Nelson Elliott, who proposed that market prices unfold in repetitive patterns of five upward waves, called impulse waves, and three downward corrective waves. These waves are believed to reflect the psychology of market participants, alternating between optimism and pessimism. XRP\/USD 30-day price chart. Source: FXstreet\/TradingView Amidst the bearish sentiment surrounding XRP, Cobb’s prediction of a $10 price target showcases his optimism and faith in the potential of the cryptocurrency. Cobb’s application of Elliott Wave Theory to the monthly price chart of XRP has led him to believe that a significant upward movement is on the horizon, potentially taking the price to unprecedented levels. Ripple’s Expanding Ecosystem Despite the current market challenges, Ripple, the company behind XRP, has been making notable strides in expanding its ecosystem. A major boost came in the form of Ripple’s membership acquisition in the International Swaps and Derivatives Association (ISDA), granting access to a massive derivatives market.\u00a0 This move has positioned Ripple among over a thousand member institutions from 79 countries, potentially opening new avenues for XRP’s adoption. XRP market cap at $32.6 billion on the daily chart: TradingView.com Bullish Sentiment And Recent Developments Meanwhile, Ripple’s partial victory against the US Securities and Exchange Commission (SEC) has acted as a catalyst for bullish sentiment within the XRP community. With more clarity on XRP’s legal status as “not an investment contract,” Ripple has been able to focus on its developmental efforts and forge new partnerships. These developments, coupled with the company’s strides in technology and collaborations, drive the adoption of XRP tokens across various use cases. Related Reading: Shiba Inu: More Bite Than Bark Over The Weekend With Over 15% Jump A recent analysis reveals that XRP finds itself at a crucial juncture as it clings to the 50 Exponential Moving Average (EMA) support level. This level has historically provided strong support during market downturns, often acting as a springboard for price rebounds. While the current market conditions are challenging, the reliance on this support level gives hope to XRP enthusiasts that a potential price recovery might be on the horizon. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Crypto News Flash<\/p>\n","protected":false},"author":557,"featured_media":546056,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,3],"tags":[142,1144,8686,4735,13172],"class_list":["post-546041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all","category-news","tag-altcoins","tag-btcusd","tag-ethusd","tag-price-action","tag-xrp-price"],"acf":[],"yoast_head":"\nXRP To $10: What Could Trigger An Upward Climb<\/title>\n<meta name=\"description\" content=\"XRP is currently undergoing a notable price correction, with a 24-hour decline of 2.2% and a seven-day slump of 12.1%, bringing its price to $0.61\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Encila","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","caption":"Christian Encila"},"description":"They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Journey To $10: Unveiling The Forces That Could Trigger An Upward Momentum","url":"http:\/\/wncen.com\/news\/xrp-journey-to-10-unveiling-the-forces-that-could-trigger-an-upward-momentum\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/xrp-journey-to-10-unveiling-the-forces-that-could-trigger-an-upward-momentum\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/a-29.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/a-29.png?fit=666%2C460"},"articleSection":"All","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","btcusd","ethusd","price action","xrp price"],"dateCreated":"2023-08-07T14:00:32Z","datePublished":"2023-08-07T14:00:32Z","dateModified":"2024-06-12T09:16:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Journey To $10: Unveiling The Forces That Could Trigger An Upward Momentum\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/xrp-journey-to-10-unveiling-the-forces-that-could-trigger-an-upward-momentum\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/xrp-journey-to-10-unveiling-the-forces-that-could-trigger-an-upward-momentum\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/a-29.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/a-29.png?fit=666%2C460\"},\"articleSection\":\"All\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"btcusd\",\"ethusd\",\"price action\",\"xrp price\"],\"dateCreated\":\"2023-08-07T14:00:32Z\",\"datePublished\":\"2023-08-07T14:00:32Z\",\"dateModified\":\"2024-06-12T09:16:57Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/a-29.png?fit=666%2C460","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/546041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=546041"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/546041\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/546056"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=546041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=546041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=546041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}