XRP is exhibiting bullish signals supported by multiple technical indicators.
An Inverse Head and Shoulders pattern has clearly formed on the chart, indicating a potential reversal from the previous bearish trend. Additionally, the downward trendline appears to be breaking out with increasing volume, which reinforces the breakout confirmation.
From an Elliott Wave Theory perspective, we seem to be in wave 3, which is typically the most impulsive and extended leg of the five-wave cycle.
Given the structure and momentum, a conservative price target lies at the $2.30 level, representing the measured move from the neckline of the H&S formation.
Further upside may follow if wave 3 unfolds as expected, but short-term corrections should also be anticipated.
Risk management remains essential, as macroeconomic factors and fundamental news may cause volatility.
— Thanks for reading.
An Inverse Head and Shoulders pattern has clearly formed on the chart, indicating a potential reversal from the previous bearish trend. Additionally, the downward trendline appears to be breaking out with increasing volume, which reinforces the breakout confirmation.
From an Elliott Wave Theory perspective, we seem to be in wave 3, which is typically the most impulsive and extended leg of the five-wave cycle.
Given the structure and momentum, a conservative price target lies at the $2.30 level, representing the measured move from the neckline of the H&S formation.
Further upside may follow if wave 3 unfolds as expected, but short-term corrections should also be anticipated.
Risk management remains essential, as macroeconomic factors and fundamental news may cause volatility.
— Thanks for reading.
Dagangan ditutup: sasaran tercapai
XRP Has reached its target.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.