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📈🐋Market Situation Analysis of XRP
The sharp rise of XRP has become one of the most notable events in the cryptocurrency market. The asset demonstrated a powerful breakout from a 1.5-year accumulation period, supported by a favorable news backdrop.
At the moment, XRP continues to show strength. The 0.382 level on the Fibonacci retracement successfully holds the price above the $2 mark, confirming the presence of strong support. Locally, the asset has found an equilibrium point around $2.15; however, the market allows for the possibility of a temporary decline while testing the support line (fan angle). At the same time, a structure resembling an ascending triangle is forming, which is a bullish signal.
Long-term Prospects
From the perspective of Elliott Wave Theory, XRP is moving within the framework of the 5th wave, the peak of which can be expected in the range of $3.7. However, considering the current information backdrop and the overall market condition, there is a likelihood that the price may exceed these expectations.
Institutional Interest
Notably, over the past week, large investors 🐋 (whales) have been actively accumulating XRP. This confirms a high interest in the asset.$XRP
The sharp rise of XRP has become one of the most notable events in the cryptocurrency market. The asset demonstrated a powerful breakout from a 1.5-year accumulation period, supported by a favorable news backdrop.
At the moment, XRP continues to show strength. The 0.382 level on the Fibonacci retracement successfully holds the price above the $2 mark, confirming the presence of strong support. Locally, the asset has found an equilibrium point around $2.15; however, the market allows for the possibility of a temporary decline while testing the support line (fan angle). At the same time, a structure resembling an ascending triangle is forming, which is a bullish signal.
Long-term Prospects
From the perspective of Elliott Wave Theory, XRP is moving within the framework of the 5th wave, the peak of which can be expected in the range of $3.7. However, considering the current information backdrop and the overall market condition, there is a likelihood that the price may exceed these expectations.
Institutional Interest
Notably, over the past week, large investors 🐋 (whales) have been actively accumulating XRP. This confirms a high interest in the asset.$XRP
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
XRP
2.4092
+0.10%
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