The cryptocurrency market analysis shows that XRP has completed its first wave of correction, and experts predict further price changes.
Current Wave Structure
According to the current chart, Wave A is completed, and Waves B and C are expected to unfold, creating a short-term bullish retracement. The analyst noted: "Now A wave has been completed and we can see a rise towards $2.55 levels. We are heading towards $3.333 after the B and C wave in the 4-hour chart."
Key Levels to Watch
Key support and resistance levels for XRP are as follows:
* Supports: $2.3502, $2.2222 * Resistances: $2.58, $3.3333
If XRP adheres to these wave structures, a break above the $2.58 resistance could catalyze a sharp upward movement.
What's Next?
With a strong recovery bounce potentially underway, short-term traders may look for confirmation of Wave B strength before positioning for the larger move to $3.33. The bullish outlook hinges on maintaining support above $2.22 in the near term.
Based on the current wave analysis, XRP shows the potential for short-term growth. It is crucial to monitor key support and resistance levels for further movement assessment.
