📊 XRP Long-Term Technical Analysis – Key Levels to Watch 📊
XRP appears to be nearing the end of its Wave 4 correction, setting the stage for its next major move. Here’s a breakdown of critical levels and scenarios:
Key Levels and Scenarios:
Critical Level: A break above $2 would invalidate the current triangle pattern, signaling a stronger bullish trend.
Alternative Scenario: If Wave 4 bottomed in 2020, XRP could now be forming an ending diagonal in Wave 5.
Support Levels: $1.28–$1.39 in the short term, with $1.26 serving as a potential breakout signal.
Resistance Levels: $1.67 is the short-term target for bullish momentum.
Market Dynamics:
If support levels hold, XRP could gain short-term bullish momentum, potentially forming a 5-wave move within the current rally.
A break below $1.28, however, may signal a deeper Wave 4 correction, prompting caution among traders.
Stay vigilant and monitor these key levels to align your strategy with XRP’s next big move!