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Day: October 18, 2023

Crypto Analyst Predicts XRP Price to Reach $27 Based on Bullish Elliot Wave Theory

Crypto Analyst Predicts XRP Price to Reach $27 Based on Bullish Elliot Wave Theory

According to a crypto analyst using the Elliot Wave Theory, XRP’s price is predicted to reach $27, representing a significant increase. The analyst explains that the third wave of the Elliot Wave Theory, which is currently underway, is typically the most dominant and surpasses the previous waves.  Positive news and a price rally are expected during this wave, with only minor corrections. The analyst suggests that XRP has successfully gone through the first two waves and is now gearing up for the anticipated third wave, projected to reach $6.5 before a temporary correction. The final push, known as the fifth wave, is expected to propel XRP to a minimum of $27, possibly reaching even higher levels. The chart shared by the analyst indicates that the top of the third wave could occur around 2024, with the final rally potentially taking place between 2025 and 2026. Given these predictions, the analyst believes that investing in XRP below $0.50 could be a wise move for the future. Source: BITCOINST

Bitcoin Reaches Critical On-Chain Level, Fueling Optimism for Bullish Momentum

Bitcoin Reaches Critical On-Chain Level, Fueling Optimism for Bullish Momentum

Bitcoin has reached a historical on-chain metric known as the “warm supply” realized price. This indicates that current holders of Bitcoin are in a state of profit. The warm supply refers to the portion of Bitcoin supply that was last moved on the network between one week and six months ago. The warm supply is of interest because it provides insights into investor behavior, as opposed to the more liquid “hot supply” that is frequently involved in transactions.  Currently, the Bitcoin realized price for the warm supply is hovering around $28,151. By breaking above this level, Bitcoin has managed to surpass an important threshold. If Bitcoin can maintain its position above this level, it may signal the beginning of a new uptrend for the cryptocurrency. As of now, Bitcoin is trading at around $28,600, representing a 4% increase in the past week. Source: BITCOINST