Are you a fan of XRP and interested in the latest updates on its chart movements? Well, you’re in luck because in this blog post, we’ll be diving into the details of the XRP chart from an Elliot Wave perspective.
The chart has been moving sideways for quite some time now, creating a huge range that has been holding since 2017. Despite the lack of clear direction, there are key support levels that have been respected for many months, indicating a possible range trading opportunity.
However, a break below certain support levels could signal a more bearish scenario, while a breakout above key resistance levels could lead to a bullish trend. The current sideways movement suggests a potential Elliot Wave triangle pattern, with various scenarios depending on breakout directions.
Overall, the XRP chart is in a state of uncertainty, with probabilities balanced between bullish and bearish scenarios. Until a clear five-wave pattern emerges, it’s best to track the waves and structures for potential trading setups.
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