Leading Analyst Thinks Ripple’s XRP Could Soon Gain 80%: Here’s How

Over the past few weeks, XRP has performed extremely poorly amid the tumultuous macro environment. BTC is trading around 14% down from its $10,500 high (data from TradingView), but the third-largest cryptocurrency, XRP, has lost 30% in the same time period.

Despite this, a prominent cryptocurrency trader — one that called Bitcoin’s bottom at $6,400, the subsequent reversal to near $11,000, then the retracement to $8,500 — says that the asset is likely to form a “very significant pattern” that will see it trade at $0.40 in the relatively near future.

XRP Could See “Very Significant” Bottoming Pattern

Dave the Wave, one of the most accurate traders in the industry over the past few months, recently shared the below chart, showing that the leading cryptocurrency is likely forming a bottoming inverse head and shoulders pattern, whose neckline sits at $0.33.

Right now, the asset is in the midst of the right shoulder, which has been supported by the 0.5 Fibonacci Retracement of…