XRP, the cryptocurrency developed by Ripple for fast and low-cost payments, has been under the radar of many traders and analysts recently. Now, one seasoned crypto strategist believes that XRP could be on the brink of an extraordinary surge, potentially increasing by 719%. According to pseudonymous analyst Credible, XRP’s technical chart signals the beginning of a powerful rally that could push the altcoin’s price all the way to $20.

A Strong Bullish Structure: Elliott Wave Theory at Play

Credible, who is well-versed in Elliott Wave theory, is forecasting a five-wave surge for XRP. This theory suggests that during a bullish trend, an asset moves in five waves: three upward waves and two corrective waves. The third wave, in particular, is typically the longest and most explosive. According to Credible’s analysis, XRP is gearing up for this third wave, which he predicts will drive the price to unprecedented heights.

For non-traders, Credible emphasizes that the big picture here is overwhelmingly bullish. “Structure on XRP here looks so freaking clean and bullish, it’s actually insane,” he states, underscoring the strength of XRP’s technical setup. While short-term fluctuations may occur, he encourages his followers to zoom out and focus on the broader trend that indicates significant growth for the altcoin.

The $20 Target: A 719% Rally in the Cards

Currently trading at around $2.44, XRP’s potential to hit the $20 mark would represent a massive 719% increase. This surge, according to Credible, would be part of the ongoing bullish trend fueled by the healthy technical structure of the asset. For traders and investors, the possibility of such a significant price move is both exciting and promising, especially with the broader market showing signs of renewed interest in altcoins like XRP.

Credible’s chart analysis indicates that XRP is likely to enter wave three of its five-wave rally soon, and this wave is expected to carry the asset to its lofty price target. For those invested in XRP or looking to enter the market, the key takeaway is that the current setup appears to favor the bulls, suggesting that a sharp rise in price is more probable than a reversal.

Short-Term Corrections: An Opportunity to Buy the Dip

Although the long-term outlook for XRP is overwhelmingly bullish, Credible does not ignore the potential for short-term corrections. He suggests that before XRP embarks on its massive rally, it could dip below $2 for a brief period. This pullback, while a temporary setback, could provide a prime opportunity for investors to buy the dip before the next leg up.

In his analysis, Credible points to a specific support level, which he refers to as the “ORANGE zone.” This area has seen fresh local demand, and any retests of this zone should be considered strong buy signals. For traders looking to enter XRP at a lower price, this support level could offer an attractive entry point before the asset surges higher.

XRP’s Bullish Momentum: A Step Toward New All-Time Highs

Looking beyond the technical indicators, XRP’s bullish momentum is driven by a growing belief that the altcoin is poised for a major breakout. The crypto market, after a period of stagnation, is showing signs of renewed investor confidence, and XRP is emerging as a key player in this resurgence. Credible’s analysis further strengthens this sentiment, providing evidence that XRP is well-positioned for significant gains.

The increasing interest in XRP is not just driven by its technical chart but also by its use case as a payments solution. Ripple’s ongoing partnerships with financial institutions and the growing adoption of XRP in real-world applications add another layer of optimism for its future.

The Big Picture: A Bright Future for XRP

For investors and traders, the key takeaway from Credible’s analysis is the importance of keeping an eye on the bigger picture. While short-term price fluctuations may cause some uncertainty, the long-term trend for XRP is incredibly bullish. With the possibility of a 719% price increase, XRP could be one of the most rewarding altcoins in the coming months, especially if the bullish setup continues to play out as predicted.

As the cryptocurrency market continues to evolve, XRP’s potential to hit $20 could position it as one of the most exciting assets to watch in the near future. Investors looking for substantial gains might want to keep an eye on XRP’s progress, especially if the asset revisits key support levels and offers buying opportunities before its major rally begins.