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XRP Dips, Then Rebounds: Bullish Breakout on the Horizon?


by CoinEdition
  • XRP declined to fulfill the fifth leg of a bearish Elliot Wave on the hourly chart.
  • Yesterday’s decline pushed XRP into a potential buying area.
  • XRP is building momentum after the court finalized the Ripple vs SEC case.

XRP dipped yesterday, briefly aligning with a prediction by Cheeky Crypto on YouTube, before reversing course and continuing its upward climb. The seventh-ranked crypto fell to $0.57900 before closing at $0.58693, based on TradingView data.

The analyst forecasted the pullback in a podcast, pointing to an Elliot Wave on the XRP one-hour chart that had yet to complete its fifth and final leg. XRP’s decline on Monday slightly exceeded the analyst’s short target. However, he noted the altcoin would enter a bullish phase by crossing above $0.59900, the bottom of the first leg of the five-phase Elliot Wave.

It is worth noting that XRP completed the reversed Head-and-Shoulders pattern last weekend before initiating the five-phase Elliot Wave pattern identified by the Cheeky Crypto analyst. The altcoin’s price rose to $0.63100 last Saturday, retesting the key resistance it formed in late July.

The $0.63100 region has emerged as a crucial a…

The post XRP Dips, Then Rebounds: Bullish Breakout on the Horizon? appeared first on Coin Edition.

Read the article at CoinEdition

Read More

Red Wave Hits Bitcoin, Ether & XRP as Liquidations Exceed $500 Million

Red Wave Hits Bitcoin, Ether & XRP as Liquidations Exceed $500 Million

The cryptocurrency market has taken several hits this past week, culminating in short...
Will This Groundbreaking XRP ETF Filing Finally Win SEC Approval?

Will This Groundbreaking XRP ETF Filing Finally Win SEC Approval?

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XRP Dips, Then Rebounds: Bullish Breakout on the Horizon?


by CoinEdition
  • XRP declined to fulfill the fifth leg of a bearish Elliot Wave on the hourly chart.
  • Yesterday’s decline pushed XRP into a potential buying area.
  • XRP is building momentum after the court finalized the Ripple vs SEC case.

XRP dipped yesterday, briefly aligning with a prediction by Cheeky Crypto on YouTube, before reversing course and continuing its upward climb. The seventh-ranked crypto fell to $0.57900 before closing at $0.58693, based on TradingView data.

The analyst forecasted the pullback in a podcast, pointing to an Elliot Wave on the XRP one-hour chart that had yet to complete its fifth and final leg. XRP’s decline on Monday slightly exceeded the analyst’s short target. However, he noted the altcoin would enter a bullish phase by crossing above $0.59900, the bottom of the first leg of the five-phase Elliot Wave.

It is worth noting that XRP completed the reversed Head-and-Shoulders pattern last weekend before initiating the five-phase Elliot Wave pattern identified by the Cheeky Crypto analyst. The altcoin’s price rose to $0.63100 last Saturday, retesting the key resistance it formed in late July.

The $0.63100 region has emerged as a crucial a…

The post XRP Dips, Then Rebounds: Bullish Breakout on the Horizon? appeared first on Coin Edition.

Read the article at CoinEdition

Read More

Red Wave Hits Bitcoin, Ether & XRP as Liquidations Exceed $500 Million

Red Wave Hits Bitcoin, Ether & XRP as Liquidations Exceed $500 Million

The cryptocurrency market has taken several hits this past week, culminating in short...
Will This Groundbreaking XRP ETF Filing Finally Win SEC Approval?

Will This Groundbreaking XRP ETF Filing Finally Win SEC Approval?

Amplify ETFs just filed for a new type of a Ripple ETF in the US.