$XRP is showing promising signs of forming a WXY correction pattern, often observed as a zigzag structure, within its Wave 4 phase. Each segment of this correction comprises three subwaves, indicating a calculated move.
📊 Fibonacci Analysis:
The 100% extension level on the Fibonacci trend aligns with a potential reversal zone at approximately $1.78. This target could act as a critical pivot point for the next major move.
💡 Market Sentiment:
XRP is up +13.59%, trading around $2.393, backed by strong momentum. A successful test and breakout could pave the way to revisit the projected zone. However, BTC’s stability will play a crucial role in XRP's trajectory.
🔍 Key Insights:
Bullish Case: Breaking current levels with volume support can lead XRP towards $1.78 and beyond.
Bearish Case: Failure to hold could result in a retest of lower Fibonacci levels.
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