19 hour ago
0 0
XRP Analyst Targets $5.5, Key Level Set at $2.94 Weekly Close
XRP is maintaining stability on a weekly scale despite recent market declines, according to an Elliott Wave analysis by Hov (@HovWaves). Currently, XRP trades at $2.18 with the potential for a higher wave v.
Key Points
- The price has retraced to around $2.094, probing a demand zone near $1.548.
- Important resistance is identified at $3.41, with a critical weekly close level at $2.94 needed to confirm an impulsive trend.
- A potential target is set at $5.558, contingent upon surpassing the $2.94 mark.
- The base support remains structurally significant, anchored around $0.43.
- Current consolidation is beneath $3.41, with heavy trading activity noted below this level.
Hov indicates that XRP remains robust amidst the broader market sell-off and suggests a path to $5.5, provided it can achieve a high time frame (HTF) close above $2.94.
