Overview

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XRP Price Prediction The one-hour chart highlights a potential bullish reversal scenario within the Elliott Wave framework. The recent corrective decline appears to If XRP fails to hold these support levels, the correction could extend toward the 50-day EMA at $2.27, the 100-day EMA at $2.25, or even the 200-day EMA at $2.00 in a As more longs initiate above the resistance, XRP’s upside potential could extend to $0.86-$0.90. The projected swing would account for a 22%-30% ascent from the

XRP Price Prediction: Correction Incoming If XRP Fails to Close Above Key Resistance

Is XRP poised for a price correction? Recent market analysis suggests potential downside if XRP fails to secure a close above a crucial resistance level. Many traders are closely watching XRP's performance, wondering if a significant pullback is on the horizon.

XRP Price Prediction: The Bearish Scenario

The one-hour chart highlights a potential bullish reversal scenario within the Elliott Wave framework. The recent corrective decline appears to be testing key support levels. If XRP fails to hold these support levels, the correction could extend toward the 50-day EMA at $2.27, the 100-day EMA at $2.25, or even the 200-day EMA at $2.00 in a worst-case scenario. Watch these levels carefully for potential buying opportunities, should a correction occur.

Factors Influencing XRP's Price Action

Several factors could contribute to a potential XRP price correction: Overall market sentiment, regulatory news surrounding Ripple, and the success (or failure) of its ongoing legal battles. Keep an eye on these external forces as they can significantly impact XRP's price trajectory.

The Bullish Outlook: What Needs to Happen

While the possibility of a correction looms, a bullish scenario remains viable. As more longs initiate above the resistance, XRP’s upside potential could extend to $0.86-$0.90. The projected swing would account for a 22%-30% ascent from the current level, signaling a strong recovery and potential further gains. A decisive breakout above this resistance is crucial to negate the correction risk.

Trading XRP: Risk Management is Key

Whether you're bullish or bearish on XRP, remember that the cryptocurrency market is highly volatile. Always practice sound risk management techniques, including setting stop-loss orders and diversifying your portfolio. This will help protect your capital during periods of market uncertainty.

Disclaimer: This is not financial advice. Please consult with a qualified financial advisor before making any investment decisions.

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