XRP Long-Term Technical Setup & Analysis:
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XRP might be ending its Wave 4 correction. Key levels and scenarios:
- Critical level: $2 (break above invalidates triangle pattern)
- Alternative scenario: Wave 4 bottomed in 2020, leading to an ending diagonal in Wave 5
- Support levels: $1.28-$1.39 (short-term), $1.26 (breakout signal)
- Resistance: $1.67 (short-term target)
Market dynamics:
- Short-term bullish momentum if support holds
- Monitoring potential 5-wave move within the current rally
- Break below $1.28 signals larger Wave 4 correction
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