According to Elliott Wave Theory, XRP is forming a triangle in wave B.
Wave A (previous uptrend): XRP completed its wave A, which was a uptrend. Wave B (current triangle formation): XRP is forming a triangle in wave B, which is a corrective wave. This triangle is a consolidation phase before the next major move. Wave C (upcoming uptrend): Once the triangle in wave B is complete, XRP is expected to start its wave C, which will be a strong and rapid uptrend.
The prediction is that wave C will take XRP to a new high, potentially around eighteen.
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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.