Ripple’s recent upward push didn’t prove to be sustainable. Anyway, we primarily anticipate another significant sell-off, which should drive the price down into our magenta Target Zone between $1.69 and $1. These declines should allow the corresponding corrective wave (4) to establish a proper low. Only after this bottom has been settled do we reckon with the extended rise of the magenta wave (5), which should target new all-time highs beyond the $3.39 resistance. If XRP breaks above this green level sooner than primarily expected, the magenta wave alt.(5) will begin prematurely. Under this 33% likely alternative scenario, the magenta wave alt.(4) would have already concluded with the February 3 low, and our magenta Target Zone wouldn’t be reached.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.