$XRP is facing resistance between $0.59 and $0.62, with the trend line holding, suggesting a larger correction. One scenario points to an A-B-C structure that could push the price above $0.60-$0.632 and $0.66. Alternatively, a flat correction might lead to a triangle pattern. The current three-wave rally from August 5th complicates predictions, and XRPâs tendency to avoid five-wave structures adds uncertainty. A clear five-wave move up is needed to confirm a bullish trend, and holding above the August low is crucial. Otherwise, the price could drop to support levels around $0.545, $0.518, or $0.493.
â Trading Setup:
- Buy Point (BP): $0.590
- Take Profit (TP): $0.632
- Stop Loss (SL): $0.574
This setup targets a breakout above resistance, with a stop loss placed just below recent support.
