Dark Defender: No Need to Worry—XRP Has Finished Its Wave 4 Correction
Current Market Sentiment: Despite subdued price action, some analysts, including Dark Defender, believe the XRP market is preparing for a significant move, having completed its Wave 4 correction according to Elliott Wave theory.
Dark Defender's Perspective: Dark Defender emphasizes the importance of discipline over emotion, encouraging XRP holders to focus on long-term accumulation rather than reacting to short-term volatility and price fluctuations.
XRP's Underperformance: XRP has struggled to maintain momentum, trading at $1.82 and failing to meet expectations, which has led to a decline in trading volume and discouraged short-term investors.
Wave 4 and Future Outlook: Dark Defender asserts that the completion of Wave 4 suggests the market is nearing Wave 5, which typically indicates strong directional movement, urging investors to concentrate on their holdings rather than immediate price changes.
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Technical Analysis for XRP
Technical Sentiment Analysis for XRP (XRP) As of , XRP (XRP) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
XRP (XRP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.518 | 0.818 | 1.155 | 1.455 | 1.793 | 2.093 | 2.43 |
| Fibonacci | 0.818 | 1.061 | 1.212 | 1.455 | 1.699 | 1.849 | 2.093 |
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