XRP - Last Point of Support?

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XRPUSD

XRP may be retracing to LPS ( Last Point of Support).

Either one of my suggested retracements could be on. As well as something a bit deeper, perhaps.

But it's looking like a strong consolidation before the next major wave up, so don't be surprised if there aren't lower opportunities than $2.40. But never say never.

- Not Financial Advice -

לפני 21 שעות

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לפני 21 שעות

הערה

XRP on Repeat Mode

It seems that XRP is on repeat mode ( Multiple ST’s, SC’s and AR’s).

With the slightly higher high that printed in January; that suggested a UT (Up Thrust) after distribution - followed by a SC (Selling Climax); then afterward printed an AR (Automatic Rally).

Back up to the BC (Buying Climax) in December; what followed was a 1:0.618 3 wave correction, followed by continuation.

After the recent UT: It appears the XRP may be currently printing another 3 wave correction. This could be another 1:0.618 3 wave correction. The MM’s would love this to spice things up before the next BC.

We are currently being threatened with a Bull trap shakeout in the current window.

After further research into USDT.D - The dominance chart is looking bullish and threatening to form a higher high (Check out my recent USDT.D post).

If this does play out; This could be confirmation that a 3 wave correction is printing for XRP.

But note the yellow rectangle box. A higher high formed on Dec. 20th 2024 for USDT.D but a lower low was not in the works for XRP. This is a clue that XRP will not see a lower low if the correction is on.

This is looking like another ST in the making before the next major wave up: and I do believe this wave up will be the one that will blow wigs off.

With that noted: Good Luck traders and watch out for potential bull trap’s.

- Not Financial Advice -