The price of XRP on the upward road to $ 5 is still as long as this level keeps it
The cause of confidence
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The price of XRP continues to appear Strong upward signals In the medium term, with the encryption analyst expecting a big step to a new ATH. Despite continuous Market fluctuationsThe cryptocurrency continues to retain major levels, while maintaining a upscale path towards the target of $ 5.
Elliott Wave is planning the XRP path to $ 5
XForceglobal, Elliott Wave Analyst, recently shared a medium time frame Elliott wave analysis from XRPFocusing on its basic work and wave structure. According to the analyst, XRP remains on a bullish path, indicating a strong force The possibility of upward movement Towards the target 5.4 dollars.
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The price scheme He appears XRP is in the final stages of a complex corrective pattern and is preparing to enter a strong third wave gathering. The current wave structure indicates that XRP creates “1-2 scenario”, where the next 3 wave is expected to launch much higher.
Xforceglobal has explained Fibonacci retreat area Between a range of $ 2.00 and $ 1.80 as a potential entry point, with the price of flexibility showing near this area. The decisive price level for XRP is the regional depression at $ 1.60, which works as more Important support level It would determine the next step for the cryptocurrency.
This support level is that if the XRP price remains above it, then it is The expected ascension scenario The current structure remains sound. On the other hand, if the price decreases under it, it may convert the declining direction, which is likely to nullify the bullish view.
Thanks to $ 1.60 as a strong support institution, XForceglobal projects can soon exceed XRP soon $ 3.20 and may reach $ 5.40 in the coming months. This would represent a New ever for XRPIt represents an increase of 40.63 % over the current ATH of $ 3.84.
2.18 dollars has been marked to be the main penetration level for Altcoin
Share similar rising forecasts, bitcoin benny, encryption analyst, subscriber Technical analysis of XRP on the time frame for an hour to draw a potential price track map. According to the analyst, XRP shows the recovery marks After bearing the sharp market correction in late April.
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The encrypted currency has made the highest level in about $ 2.3, but it was subjected to Dramatic decreaseAnd according to approximately $ 2.125, as buyers quickly enter to stabilize its price. Since then, the support level was strong, with The price of XRP is currently integral Below this point directly.
The right side of the scheme has been marked, the analyst has set the key resistance level at $ 2.18, and this level was described as a critical outbringing point. Suppose Altcoin can break decisively and close at $ 2.18. In this case, Bitcoin Benny predicts that it can lead to what he calls a “transmission season”, a gathering by momentum that can push XRP towards new levels to re -test its previous levels.
Distinctive image from Getty Images, Chart from TradingView.com
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