13 hour ago
1 0
BULLISH 📈 : XRP enters washout zone, targets $30, analyst predicts
XRP is currently in a "washout" phase within an Elliott Wave corrective structure, as described by Korean Certified Elliott Wave Analyst XForceGlobal. This phase may set the stage for a significant upward move, with potential targets in the $20–$30 range.
- XForceGlobal's analysis suggests that the current pullback aligns with an expanded flat correction pattern, leading to a final downward leg before a potential upward advance.
- He emphasizes that Wave C involves emotional-driven selling, often reaching the 161.8% Fibonacci extension, where selling pressure typically exhausts.
- A volatile zone between $1.50 and $1.08–$1.09 could emerge as a buy zone once the downtrend concludes and a reversal becomes evident.
- The macro context of XRP involves breaking out from a multi-year triangle followed by a substantial rally, supporting the expanded flat setup.
- If XRP completes its corrective phase, it might enter a new impulsive cycle with higher targets, potentially reaching $20–$30 over time.
At the time of writing, XRP trades at $1.5887.
