CandleFocus Analyst Expects XRP Macro Wave 5 to Surpass $3.4 as Fib. 1.618 Support Holds
2024-09-24
Author: Content Editor
A crypto analyst, EGRAG, has discussed XRP's price movements and highlighted the significance of the Fibonacci 1.618 support level, which XRP has successfully maintained, even during market volatility. The analyst's chart shows that this support aligns with the $0.4442 price level. If XRP fails to maintain this level, it could result in a significant price drop. However, the current price action indicates that XRP is comfortably holding this level, suggesting potential gains. The chart also highlights other Fibonacci levels and suggests that XRP could reach new all-time highs, with the potential to surpass its previous peak. The Elliott Wave structure indicates that XRP is currently in Wave 5, which tends to be a bullish phase and could lead to double-digit targets.
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