Ripple: Short-term Sell-offs Expected
Ripple’s recent upward push didn’t prove to be sustainable. Anyway, we primarily anticipate another significant sell-off, which should drive the price down into our magenta Target Zone between $1.69 and $1. These declines should allow the corresponding corrective wave (4) to establish a proper low. Only after this bottom has been settled do we reckon with the extended rise of the magenta wave (5), which should target new all-time highs beyond the $3.39 resistance. If XRP breaks above this green level sooner than primarily expected, the magenta wave alt.(5) will begin prematurely. Under this 33% likely alternative scenario, the magenta wave alt.(4) would have already concluded with the February 3 low, and our magenta Target Zone wouldn’t be reached.
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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.