Search results for Elliott Wave Theory
Crypto
XRP direction debated as trader cites case for rise to $9.40
Cryptocurrency trader Freedom By 40 forecast XRP could rise to the $5 to $9 range, far above its current price near $1.49. He applied Elliott Wave theory, Fibonacci retracement and trendlines to an XRP/USD chart based on Bitstamp data. He set upside targets at $5.80 and $9.40 and outlined key support at $1.167 to $1.439. He said the targets are technical projections and could change with new price data.
Crypto
XRP rebound may be a trap as Elliott wave points to possible further drop
XRP has rebounded from recent lows, but analysts say the current correction may not be over under Elliott wave structure, leaving room for another decline. The 1-hour chart has yet to form the structure needed to confirm a trend bottom, raising the possibility of a retest of support. Key support is seen at $1.10 to $1.38, while resistance is placed at $1.44 to $1.60. U.S. spot XRP ETFs logged $18.96 million of net inflows over the past week.
Crypto
XRP wavers around $1 as analyst says it will outperform bitcoin and ethereum
XRP is nearing a major turning point versus bitcoin and ethereum, a market analyst said. Dark Defender said the XRP-to-ether ratio could be finishing an Elliott Wave 4 correction and entering a Wave 5 rise, potentially letting XRP lead the market after ether rises further in the near term. Another analyst, ChartNerd, said nothing is absolute and warned XRP could stay weak into year-end. XRP traded at $1, while ether was about $1,910.
