CandleFocus Analyst sets XRP price roadmap to $5.85
2024-11-08
Author: Content Editor
Following Donald Trump's victory in the US presidential election, the cryptocurrency market is experiencing renewed optimism. Many believe that a Republican-led administration could create favorable conditions for an XRP exchange-traded fund (ETF). Analysts have outlined a roadmap for XRP, projecting its journey to a target of $5.85. Current movement aligns with a classic five-wave Elliott Wave pattern, with XRP reaching the $1.88 resistance level and potentially hitting $5.85. The weekly Relative Strength Index (RSI) and XRP derivatives data also indicate bullish sentiment. However, increased volatility could result from Ripple's recent transfer of 470 million XRP tokens. XRP is currently trading at $0.54 and needs to maintain the $0.6 support level to sustain its upward trajectory.
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