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- 💙 Gate Square #Gate Blue Challenge# 💙
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Breakout Could Be Explosive 💣
Its bullish breakthrough is intact as XRP holds over $3. Wave 4 consolidation might drive the price beyond $6 and beyond in Wave 5.
Analist remembers a July 6 article describing a weekly XRP wave structure with a starting objective of $3.61. Based on that study, he has produced the daily chart of the same wave structure to examine XRP's price behavior inside the Elliott Wave framework.
Dark Defender claims XRP has completed Waves 1, 2, and 3 of the current cycle. Price is in Wave 4, which seems to be consolidation. The Relative Strength Index (RSI) shows that the market is consolidating before the next step upward.
Dark Defender predicts Wave 5 will cost $5.8563, but this is not financial advise. He keeps his $3.61 objective and adds $5.85 as a high for this next impulsive play. If support levels hold, these objectives assume the present wave structure continues.
At $3.07, XRP finds key support. As long as XRP retains this support and goes through Wave 4, the bullish wave setup stays viable, targeting $5.85.
The Altcoin Expects First Monthly Close Above $3
XRP might close the month over $3 for the first time ever. This probable monthly closure is positive and might indicate XRP's long-term price transition.
She identified a significant breakout zone between $1.97 and $3.01, which XRP cleared. Sonia said that traders and investors may focus on the following psychological goals of $4.50 and $6.00+ after this breakthrough.
Sonia said price discovery is probable if XRP stays over $3 on the monthly chart due to the absence of historical resistance above this level. Sonia further cautioned that the breakthrough will be nullified if XRP falls below $3. A false breakthrough might lead to a drop, making the $3 level essential for bulls.
#FOMCMeeting # xrp #Xrp🔥🔥 $XRP