Analyst Suggests XRP Wave 3 Rally About to Start
Main Idea
Analyst Casitrades suggests XRP may be preparing for a Wave 3 rally, with key resistance at $3.21 and potential targets around $3.82, supported by technical and market signals.
Key Points
1. XRP is holding above the critical $3.00 support level, trading around $3.19, with analyst Casitrades predicting a potential Wave 3 rally.
2. A break above the $3.21 resistance level, especially with rising volume, could confirm the start of Wave 3, targeting around $3.82.
3. XRP's intraday low of $3.02 saw a quick rebound, indicating strong buying interest and institutional support.
4. Improving fundamentals, including eased regulatory pressure and growing institutional interest, are bolstering XRP's bullish outlook.
5. Ripple's ecosystem growth, including its stablecoin RLUSD and potential spot ETF applications, is enhancing XRP's utility and price potential.
Description
XRP is currently holding firm just above the critical $3.00 level, trading around $3.19 at the time of writing. After failing to sustain momentum above the $3.21 resistance, the price retraced to retest the major $3.00 support, a level now closely watched by analysts for signs of a renewed breakout. Among them, respected market analyst Casitrades believes XRP may be gearing up for a powerful Wave 3 rally in its ongoing Elliott Wave structure. XRP Holds Strong at Support as Wave Structure Develop...
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