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XRP Crash below $2 Ends Bearish 2nd Wave — Factors Driving Bullish 3rd Wave
The latest XRP drop below $2 may have finished the bearish 2nd wave, according to crypto researcher. After that, the crypto analyst discussed what may cause wave 3's abrupt rise.
XRP's second Elliot Wave bullish cycle may finish if it retests $2. Wave 3's impulsive uptrend will likely happen soon after Wave 2's completion. Five variables underpin this bullish potential, according to the crypto researcher.
The expert said that Ripple's RLUSD debut may influence the XRP price's Wave 3 motion. XRP's price increased after the RLUSD introduction on December 17, therefore the stablecoin launch has given it a bright outlook.
Another aspect the crypto analyst highlighted is Trump's support for cryptocurrencies. The pro-crypto US president-elect is likely to establish a regulatory-friendly climate for cryptocurrency after taking office on January 20. Ripple was a big crypto contributor to Donald Trump's campaign and inauguration, therefore XRP might rise after this event.
Higher-timeframe XRP price analysis. A closing over $1.99 would alter the game for the yearly candle, the expert said. He noted that XRP would make history if it closes over $1.99, the 2017-yearly candle body closing.
According to the six-month charts, XRP is now steadier, with lower risk and more consistent growth than in 2017. He expects more steady price increase for XRP.
His 3-month chart analysis showed that the Relative Strength Index (RSI) had space to grow. He noted that XRP has surpassed 70, which is “extremely bullish,” and that it still has two bullish objectives at 87 and 96.
Finally, the crypto expert said XRP is above Equilibrium for two months. XRP rose 13x the previous time. Accordingly, the expert said a climb to $13 is “super easy” to achieve.
#XRP #Ripple #BTCNextMove #MarketPullback $XRP $BTC $ETH
The latest XRP drop below $2 may have finished the bearish 2nd wave, according to crypto researcher. After that, the crypto analyst discussed what may cause wave 3's abrupt rise.
XRP's second Elliot Wave bullish cycle may finish if it retests $2. Wave 3's impulsive uptrend will likely happen soon after Wave 2's completion. Five variables underpin this bullish potential, according to the crypto researcher.
The expert said that Ripple's RLUSD debut may influence the XRP price's Wave 3 motion. XRP's price increased after the RLUSD introduction on December 17, therefore the stablecoin launch has given it a bright outlook.
Another aspect the crypto analyst highlighted is Trump's support for cryptocurrencies. The pro-crypto US president-elect is likely to establish a regulatory-friendly climate for cryptocurrency after taking office on January 20. Ripple was a big crypto contributor to Donald Trump's campaign and inauguration, therefore XRP might rise after this event.
Higher-timeframe XRP price analysis. A closing over $1.99 would alter the game for the yearly candle, the expert said. He noted that XRP would make history if it closes over $1.99, the 2017-yearly candle body closing.
According to the six-month charts, XRP is now steadier, with lower risk and more consistent growth than in 2017. He expects more steady price increase for XRP.
His 3-month chart analysis showed that the Relative Strength Index (RSI) had space to grow. He noted that XRP has surpassed 70, which is “extremely bullish,” and that it still has two bullish objectives at 87 and 96.
Finally, the crypto expert said XRP is above Equilibrium for two months. XRP rose 13x the previous time. Accordingly, the expert said a climb to $13 is “super easy” to achieve.
#XRP #Ripple #BTCNextMove #MarketPullback $XRP $BTC $ETH
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