A crypto analyst has sounded the alarm on a last-minute selling opportunity for XRP, pinpointing the worth high at $3.33 as a chief exit point. The analyst shared why he believes now’s the very best time to unload the token, predicting a severe downturn that might trigger a crash to recent lows. 

Analyst Urges XRP Sell Off, Brace For Correction

On January 23, a TradingView analyst called ‘Comeon25’ presented an XRP chart evaluation based on the Elliott Wave Theory. He forecasted an impending price crash and urged investors and traders to exit the market on the $3.33 price level before the anticipated correction occurs.

Within the chart, the analyst disclosed that Wave 1 and a couple of of XRP’s Elliott Wave cycle highlighted a period of consolidation while Wave 3 reflected strong upward movement, characterised by significant gains. Conversely, Wave 4, the main focus of the present evaluation, is predicted to trigger a deep correction to recent lows. In consequence, the analyst predicts that this downtrend may lead to a large price crash to the 5 Fibonacci retracement level, with $2.5 being the likely goal. 

Data from CoinMarketCap shows that the XRP price is trading near $3.12, meaning a drop to $2.5 would equate to a roughly 20% decline. Given this potential price correction, the analyst has pinpointed the $3.33 price level as the ultimate likelihood to unload the altcoin at a comparatively high value. 

The TradingView analyst has also revealed a possible timeline for his crash forecast. In line with the chart’s projection, the Wave 4 correction is predicted to start out soon and last until March 25, 2025. This timeframe allows investors and traders to potentially unload their XRP before the anticipated decline, helping avoid significant financial loss.   

Bullish Fundamentals And Key Buy Zone 

While ‘Comeon 25’ warns of a possible XRP price crash, the TradingView analyst highlighted several bullish fundamentals that might propel the cryptocurrency higher in the long run. In line with his chart evaluation, a key factor supporting a bullish outlook for the altcoin is the potential for a pro-crypto government under Donald Trump’s leadership, which could create a positive regulatory environment for all cryptocurrencies.

The TradingView analyst also mentioned the potential of Ripple relocating to the US (US) as one other significant bullish indicator. This move could align with the country’s growing pro-crypto agendas, enabling Ripple to achieve more regulatory clarity. Furthermore, he highlighted recent adoption milestones, as Japan’s banks have announced intentions to integrate the XRP network to facilitate cross-border payments more effectively. 

Moving on from XRP’s bullish fundamentals, the analyst’s chart highlights a “buy area” between $2.00 and $2.50 throughout the expected Wave 4 correction. This zone could present a superb entry point for making the most of potential surges in the ultimate Wave 5 of the Elliott Wave cycle.

Featured image from Adobe Stock, chart from Tradingview.com