XRP Tests $3.25 Resistance Amid Rising Accumulation and Wave 3 Targets Above $13
Main Idea
XRP is testing the $3.25 resistance level with potential Wave 3 targets above $13, supported by bullish market structure and on-chain accumulation.
Key Points
1. XRP faces critical resistance at $3.25, with Wave 3 price targets projected at $13.13, $18.22, and $36.76.
2. The price action mirrors historical Elliott Wave patterns, with higher lows forming on weekly and monthly charts, maintaining support above $2.90.
3. Momentum indicators like RSI and MACD show weakening buying pressure, but the overall bullish trend remains intact.
4. On-chain data indicates accumulation by long-term holders, despite a decline in futures open interest from $10.94 billion to $9 billion.
5. A break above $3.25 could open the path to higher resistance zones at $3.80–$4.30.
Description
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