Analyst STEPH IS CRYPTO has shared a technical forecast for XRP, indicating important changes in wave cycles and potential price levels.
Review of Wave Patterns
Analyst STEPH IS CRYPTO shared a chart indicating that XRP is completing Wave 4 and beginning Wave 5 within the Elliott Wave structure. The chart is based on a weekly timeframe for the XRP/USD trading pair on Bitstamp, covering a period of 57 bars or 399 days.
Current Price Movement
The chart clearly shows that Wave 4 bottomed slightly above $1.70 before the recent upward move, which the analyst has labeled as the start of Wave 5. The price of XRP is now above the $3.50-$4.00 range, reinforcing the prediction of a bullish continuation.
Overall Market Trends
Although the forecast lacks information on external factors such as macroeconomic conditions, the technical analysis suggests a bullish outlook. The statement indicating the start of the final wave positions the current market phase as a potentially pivotal move for XRP.
Predictions made by STEPH IS CRYPTO highlight important stages in XRP's movement, indicating the potential for significant growth in the coming years, while missing comments on external factors that could influence this final wave.
