Crypto analyst prophecy trading alluded to the XRP price table which, according to him, shows a corrective structure of the wave 4 which could lead to a new High of all time (ATH) in April. XRP is expected to attend a final price correction before it has a new $ 4 ATH.
XRP price testifies to corrective structures before New Ath
In a TradingView PostProphecy trading has highlighted the XRP price as one of the cryptographic assets is currently experiencing a corrective structure. He pointed out that XRP shows force despite this structure, and its current models align with Historical market cycles.
More specifically, the analyst noted that these models resemble Price action from September 2017A final rally of the wave 5. The analyst’s support graph has shown that Altcoin could join a new $ 4.5 ATH next month.
While giving a technical ventilation of the action of its prices, Prophecy Trading noted that Altcoin has remained resilient, consolidating instead of decomposing, which indicates a strong underlying structure. He then aligned the Macro market, highlighting the parallel with the 2017 Bull Run.
The crypto analyst noted that the XRP price correction phase now reflects its 2017 structure, aligning with the moment before its parabolic movement. He also referred to stock market correlationNoting that wider macro-tendencies, including the movements of mega-cap actions, also support the prediction of a last rally before the end of the cycle for XRP and other assets.
Prophecy trading said that if the historical models were standing, a top of the wave 5 could occur for the price. If this happens, he pointed out that there would be a large market rally leading to a last euphoric push.
The momentum has changed for the price
In a post X, Casitrades of cryptographic analyst revealed that there is an upward divergence forming on the RSI for the XRP price, which means that the momentum can change even if the price has not reacted. She added that sellers are exhausted and that buyers can intervene.
Casitrades noted that the price of the asset is solid, having reached the gold retraction from 0.618 to $ 2.36. She added that this area acts as a level of pivotal support and could mark wave 4 below in the sub-sworn Elliot waves account. If this is the case, the analyst predicts that the next wave would target higher highs, with resistance at $ 2.70.
She revealed that the key levels to be monitored are $ 2.36, which is the current support; $ 2.70, which is local resistance to flip; $ 3.05 and $ 3.40, which are macro continuation objectives; and $ 3.80, which is the high test of all time. Casitrades said that the largest bullish structure remains valid and an escape could soon occur.
At the time of writing writing, the XRP price is negotiated at around $ 2.45, up more than 2% in the last 24 hours data from CoinMarketCap.
Istock star image, tradingView.com graphic
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