Analyst Says $XRP Wave 4 Correction Now Complete, Eyes $4.39 as Long as a Key Level Holds
XRP may be warming up for its next major rally after a weeks-long corrective phase, according to analyst Dark Defender.
The third-largest cryptocurrency has been trading under $3 for over a week amid the bearish trend that has dominated market sentiment. However, technical charts are beginning to flash promising signs of a potential rebound.
XRP Completed Wave 4 Correction
In his latest chart update, Dark Defender explained that XRP is following a five-wave Elliott Wave structure on the daily timeframe. The analyst noted that XRP has completed its fourth-wave correction, which typically sets the stage for a strong fifth-wave advance.
{spot}(XRPUSDT)
$2.85 Support Is Key
Dark Defender stressed that XRP’s bullish outlook hinges on maintaining the $2.85 support level. This zone represents the 23.6% Fibonacci retracement of the recent rally and has acted as a pivot in past price action.
As long as XRP does not close decisively below this level, the Elliott Wave structure remains intact, keeping the fifth-wave target in play.
The projection comes amid mixed sentiment in the XRP community. While some long-term holders have expressed frustration with XRP’s slow progress, analysts like Dark Defender and EGRAG continue to highlight technical setups suggesting the bull run isn’t over. #xrp #Market_Update
XRP may be warming up for its next major rally after a weeks-long corrective phase, according to analyst Dark Defender.
The third-largest cryptocurrency has been trading under $3 for over a week amid the bearish trend that has dominated market sentiment. However, technical charts are beginning to flash promising signs of a potential rebound.
XRP Completed Wave 4 Correction
In his latest chart update, Dark Defender explained that XRP is following a five-wave Elliott Wave structure on the daily timeframe. The analyst noted that XRP has completed its fourth-wave correction, which typically sets the stage for a strong fifth-wave advance.
{spot}(XRPUSDT)
$2.85 Support Is Key
Dark Defender stressed that XRP’s bullish outlook hinges on maintaining the $2.85 support level. This zone represents the 23.6% Fibonacci retracement of the recent rally and has acted as a pivot in past price action.
As long as XRP does not close decisively below this level, the Elliott Wave structure remains intact, keeping the fifth-wave target in play.
The projection comes amid mixed sentiment in the XRP community. While some long-term holders have expressed frustration with XRP’s slow progress, analysts like Dark Defender and EGRAG continue to highlight technical setups suggesting the bull run isn’t over. #xrp #Market_Update
إخلاء المسؤولية: تتضمن آراء أطراف خارجية. ليست نصيحةً مالية. يُمكن أن تحتوي على مُحتوى مُمول. اطلع على الشروط والأحكام.
XRP
2.0755
+1.90%
33