XRP’s price action in the past 24 hours has been highlighted by a retracement towards support at $2.28 that has appeared in recent days. However, the XRP price action looks strong on the higher timeframes, particularly the six-month chart, where technical analysis indicates that a much larger breakout towards $74 may be in its early stages.
XRP Price Still Climbing Above Long-Term Resistance Structure
This interesting outlook is based on a long-term analysis of Elliott impulse waves and Fibonacci extension levels by crypto analyst Dark Defender. According to the latest chart update shared by the analyst on social media platform X, which is based on the 6-month candlestick timeframe, XRP is currently extending its run above a multi-year downtrend resistance that had capped its movement since early 2018
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