Analyst Says August 9 Is Crucial for XRP Price Rally. Here’s why
Main Idea
A crypto analyst suggests August 9 is a critical date for XRP's potential price rally, based on Elliott Wave Theory and the alignment with a full moon.
Key Points
1. Analyst Xoom identifies August 9 as a key date for XRP's price movement, citing a potential upside based on Elliott Wave Theory.
2. XRP recently lost the $3 support level but is now positioned for a rebound, with $2.8 marked as the bottom.
3. The full moon on August 9 is seen as a secondary factor reinforcing bullish sentiment for XRP.
4. XRP's price has recovered to the mid-range zone between $3 and $3.2, historically a significant area for the asset.
5. The analysis combines technical patterns (Elliott Wave) with speculative factors (full moon) to predict XRP's trajectory.
Description
A recent chart shared by crypto analyst Xoom (@Mr_Xoom) has placed renewed focus on XRP’s near-term trajectory. The post highlights what the analyst describes as a “perfect call for the bottom,” based on Elliott Wave Theory, with the asset now positioned for a potential upside move as August 9 approaches, a date coinciding with the coming full moon. The daily chart shows a clearly labeled five-wave impulse to the downside, with the final leg (wave five) concluding around the $2.8 area. The analy...
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