XRP Faces Potential 40% Flash Crash in April, Analysts Predict
2min read XRP, a prominent cryptocurrency, has been experiencing a period of consolidation following its recent rally. However, a crypto analyst has issued a warning that the digital asset could face a significant flash crash in April, potentially driving its price to new lows. Despite this potential downturn, the analyst anticipates that the correction may be short-lived, with a rebound expected shortly thereafter.
MetaShackle, a crypto analyst on TradingView, has shared a detailed chart analysis of XRP’s price movements. The analysis is based on the Elliott Wave theory, which is used to predict future price movements by identifying patterns in market cycles. MetaShackle has also utilized technical levels such as Fair Value Gaps (FVGs), liquidity zones, and trendlines to determine XRP’s next price action.
According to MetaShackle’s analysis, XRP may be heading for a false breakout in the coming weeks, followed by a sudden flash crash that could liquidate overleveraged traders. This deep correction could shake out weak hands, but the analyst also outlines a path for a massive rally later in the second quarter of 2025, potentially pushing XRP to a new all-time high.
The XRP price chart follows an advanced 6-wave pattern, with a potential 7th-wave breakout. XRP is currently in Wave 4 of a larger cycle. While Waves 1 to 3 represented a strong upward move, Wave 4 triggered a major correction for the XRP price. If Wave 4 is completed, the cryptocurrency’s price could push higher into Wave 5, reaching $2.80 – $3.00, where an FVG awaits. This move would create a false breakout, taking out liquidity above recent highs.
After the projected false breakout, XRP is expected to experience a flash crash in Wave 6 by April 2025. This flash crash will likely hold above the lower white trendline after breaking the upper trendline and targeting the green target area between $1.6 and $1.4, as highlighted by the chart. The flash crash in April is a theoretical move in which the XRP price retraces sharply before a real breakout. This breakout is expected to start in Wave 7, potentially leading to a price discovery for XRP and reaching a likely target of $3.00 before skyrocketing to new highs above $3.6.
Notably, the analyst predicts that Wave 7 will begin in May 2025. The breakout is anticipated to take out previous all-time highs for the altcoin, surpassing its $3.84 price record in 2018. The XRP price is now trading at $2.44 after increasing by 4.56% in the past week. Despite a sharp price crash from its $3.00 high earlier this year, the cryptocurrency remains resilient, and analysts are closely watching its next move.
Analysts continue to take a bullish stance on the XRP price outlook, predicting a potential breakout in the short term. An X (formerly Twitter) market expert, identified as ‘Steph Is Crypto,’ forecasts that the asset could surge to $3.4 soon, marking a 39.34% jump from its market price. This optimistic outlook suggests that despite the potential flash crash, many analysts remain confident in XRP’s long-term prospects.
