Ripple’s XRP remains on track to reach our magenta Target Zone between $1.03 and $0.38, even though the price has recently settled into another consolidation phase. Under our primary scenario, we expect the bottom of the magenta wave (2) to form within this range. Once that low is confirmed, fresh upward momentum should unfold during the following impulse wave (3), which has the potential to push XRP above the resistance at $3.39 and toward new all-time highs. However, if XRP breaks out to the upside before establishing the projected low within our zone, this zone will be considered void. We currently assign a 38% probability to this alternative scenario.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.