TLDR
- Tony Severino warns XRP’s bull run is nearing its end with a “glorious finale.”
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XRP’s price discovery mode could peak at $12.73 by early September, according to Severino.
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Analysts predict XRP may face a crash after a potential $20+ peak, urging caution.
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XRP’s price has surged 54% over the past 30 days, reaching $3.66 in July.
Veteran Bitcoin trader Tony Severino has indicated that XRP’s current bull run could be nearing its end. The trader cautioned followers, suggesting that while the rally may continue for a short period, it is likely to culminate in a “glorious finale.” Severino, who is known for his precise market predictions, noted that the Fisher Transform indicator for XRP is approaching overbought levels. These levels have historically signaled a market top, similar to the 2017 and 2021 XRP surges.
XRP recently broke out of a multi-year symmetrical triangle pattern, pushing its price to $3.66, the highest in nearly seven years. However, since then, it has retraced slightly, with the current price hovering around $3.34. Despite the retracement, Severino believes XRP is still in its final wave of price discovery, but the peak could be imminent.
XRP Final Surge and Exit Strategy
According to Severino, XRP’s price could rise as high as $12.73 in the next 40 days, with a potential peak occurring by late August or early September.
However, this surge is expected to be short-lived, and traders should prepare for a significant drop once the rally exhausts itself. Many analysts, including Severino, suggest setting sell limit orders to secure profits before a potential market correction.
Severino compared the current price movement to XRP’s surge in 2017, when it shot up from under $0.01 to over $3 in about nine weeks. He noted that XRP’s current trajectory could follow a similar compressed timeframe, meaning that the price could reach its target quickly before a sharp decline.
Possible Crash Scenarios for XRP Price
Although the immediate outlook for XRP remains bullish, some analysts are warning that a crash could follow the rally. One such analyst, EGRAG, outlined two possible scenarios for an XRP bear market. In the first, XRP could peak at $27 before crashing by as much as 97% to $0.80, similar to its 2017–2018 collapse.
The second scenario forecasts a more modest peak at $9, followed by an 85% drop to $1.30. EGRAG further noted that a dip below $0.30 could also occur, based on past cycles.
Severino and other analysts are urging traders to be cautious as the bullish momentum of XRP may soon fade. While institutional support and growing interest in XRP may prolong the rally, the cyclical nature of crypto markets suggests that a downturn is inevitable.
CasiTrades: Golden Pocket Holds Key to Further Gains
XRP’s recent price movements have drawn the attention of multiple traders, including CasiTrades, who closely analyzed the coin’s price structure. After a minor breakdown below the $3.17 support, XRP found crucial support at the golden retracement pocket — around the $3.11 mark — an area commonly known in Elliott Wave Theory as a potential target for Wave 2 retracements. This level served as the final line of defense for bullish momentum.
CasiTrades pointed out that despite the minor volatility, XRP’s price has since bounced back impressively, reclaiming the $3.21 resistance level. As of now, this level serves as a key support zone, and breaking above the $3.66 level would bring XRP closer to its next target zone of $4.60–$4.80. If XRP can maintain this momentum, the next wave could propel it into new highs.
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- Source: X
Based on recent technical analysis, analysts are eyeing the $4.60–$4.80 target range for XRP’s next move. The recovery from the golden pocket and the reclaiming of resistance at $3.21 suggest that XRP is preparing for its next major move. CasiTrades emphasized that a strong Wave 3 could be on the horizon, noting that the volume supporting this move is clear and powerful. If XRP can hold above the $3.21 support and break through key resistances, including the previous all-time high of $3.66, the path could be set for a rapid surge.
