Crypto Breakout Watch: $3.25 Surge Could Ignite XRP’s Run to $5.50
Main Idea
Renowned crypto analyst Man of Bitcoin suggests that XRP's wave-4 correction may be complete, with a breakout above $3.25 signaling a bottom and potential rally to $5.50.
Key Points
1. A decisive breakout above $3.25 would confirm the end of wave-4 in XRP’s Elliott Wave cycle, indicating a bottom and potential bullish rally.
2. XRP is currently trading at $3.09, with the possibility of a dip to $2.64 before the start of wave-5, which could target $5.50.
3. Wave-4 corrections typically precede strong upward moves, and a confirmed breakout above $3.25 would invalidate bearish structures.
4. The Elliott Wave Theory is used to predict market cycles, suggesting XRP is in a corrective phase after pulling back to $3.00.
Description
XRP’s Wave 4 Plays Out According to renowned crypto market analyst Man of Bitcoin, a decisive breakout above $3.25 would mark the end of wave-4 in XRP’s current Elliott Wave cycle, signaling a bottom and paving the way for a powerful rally. The analyst noted , “Wave-(C) of 4 has completed a 5-wave move to the downside, the pattern is now technically complete.A break above $3.25 would be the first confirmation that wave-4 has bottomed. For now, the possibility of another low remains on the table....
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