๐ XRP Soars to $1.66: Third Wave Rally in Full Swing? ๐
XRP has surged to $1.66, sparking excitement among traders and aligning with the Elliott Wave Theory. According to U.Today, this rally marks a potential third wave, known as the strongest and longest phase of upward momentum. If the trend holds, XRP could be on the verge of achieving new highs and attracting a wave of bullish sentiment.
๐ Elliott Wave Breakdown
Wave 1: XRP broke above $1.00, setting the stage for an uptrend.
Wave 2: Consolidation around $1.30 provided strong support.
Wave 3: The current surge, fueled by high trading volume, signals robust bullish momentum.
๐ Key Price Levels to Watch
1. $1.80: The first psychological resistance zone, crucial for validating the rally.
2. $2.00: A significant benchmark that could ignite FOMO-driven buying.
3. $2.20: The potential upper extension of the third wave if the rally gains more steam.
โ ๏ธ Risks to Consider
$1.30 as Support: Falling below this level could weaken the trend and invalidate the Elliott Wave structure.
Volume Matters: Sustained high trading volume is essential to maintain the upward momentum.
๐ Why This Matters
The third wave often attracts new buyers, strengthening bullish sentiment. If XRP breaks key resistance levels, it could mark the start of a broader rally. However, traders should remain cautious and monitor support zones closely.
๐ Are you ready to ride the third wave? Share your price predictions for XRP below! ๐