XRP: The Price Rise is in the "Final Stage", Veteran Trader Warns with a Target of 8-13 USD

Tony Severino, a veteran trader, is issuing an important warning to those holding XRP; that the current bullish phase may be approaching the "final stage". While optimistic about the token's near-term bullish potential, he still urges traders to have a clear exit strategy for what he calls the "glorious ending". The latest outlook from Severino indicates that XRP could complete the "final wave" within 40 days, peaking somewhere between $8 and $13. His analysis suggests that this peak will occur at the end of August or the beginning of September. This comes amid other more positive forecasts that have suggested higher targets of $50 to $99 by the end of this year.

XRP broke out of a multi-year symmetrical triangle pattern earlier this year, pushing the price up to $3.66 in July, the highest level since 2018, before returning to the current mark of $3.23. This breakout has placed the asset in a position that COULD explore price if the bullish momentum is maintained. Risk Scenarios and Historical Correlation EGRAG, another market analyst, outlined two potential bearish scenarios based on previous market cycles. One project peaks at $27, then drops 97% to $0.80, similar to the collapse of the 2017–2018 period. The second project forecasts a peak price of $9, followed by an 85% correction to $1.30. He also warned of the possibility of a deeper drop below $0.30 if previous patterns repeat.

Currently, XRP ranks third in market capitalization with 192.01 billion dollars, with a fully diluted valuation of 323.76 billion dollars. The trading volume in the past 24 hours reached 10.25 billion dollars, an increase of 18.17%, corresponding to a trading volume to market cap ratio of 5.34%. The circulating supply is 59.3 billion out of a total cap of 100 billion tokens. Technical Signals and Market Momentum On the daily chart, momentum indicators suggest a cautious outlook. The Relative Strength Index (RSI) is at 56.22, indicating a neutral state and unable to surpass the bullish threshold of 60-70. Furthermore, the MACD indicator is at 0.0824, below the signal line at 0.0843, resulting in a negative histogram of -0.0019.

The MACD line crossing bullish along with the RSI moving above 60 may signal another bullish wave towards the resistance zone of $3.35–$3.50. However, if the upward momentum is not regained, the price may test the support level of $3.00.