🔹 XRP Elliott Wave Overview:
Wave Count Suggestion (Bullish Scenario):
Wave 1: The rally from ~$0.45 to ~$0.78 (sparked by ETF optimism).
Wave 2: Retracement down to ~$0.60–$0.62 support (consolidation phase).
Wave 3 (now in progress?): Attempting breakout above $0.78 with volume support. Wave 3 often is the strongest.
Wave 4: Could retrace back to ~$0.70 (mild correction expected).
Wave 5: Final move pushing towards $1+, or possibly even $1.20–$1.50 depending on market sentiment and ETF approval news.
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🔸 Bearish Risk Scenario:
If XRP fails to hold above $0.62 and breaks below $0.60, then:
Current rally could be a B wave in an ABC correction.
XRP may revisit $0.50 or lower before resuming an uptrend.
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📊 Technical Confluence:
Wave 3 Target: $0.90–$1.00 (Fibonacci extension 1.618x of Wave 1).
Support Zones: $0.62 and $0.54.
Resistance Levels: $0.78 (short-term), $0.90, and $1.10.
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🧠 My View:
XRP appears to be in early Wave 3 if it holds above $0.62 and breaks $0.78 with volume. Watch for ETF news, as it could fuel Wave 3 momentum. However, stay cautious of any failure to hold above support—especially if Bitcoin dominance rises again.
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