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In this article, we share a recent analysis of Ripple (XRP) previously shared in our premium group. Are you not yet a member or do you still have questions after reading this article? Then try our Premium membership for free for 30 days.
Technical analysis XRP price
The entire crypto market has made a huge increase in recent days, but one coin has lagged noticeably and that is XRP. This may have been related to the fall of Silicon Valley Bank and Ripple’s CEO admitting that his company had exposure to the bank. Still, little has changed in the expectation for XRP for the time being, according to analysts at Crypto Insiders:
“XRP is dealing with some FUD. As a result, we see that the price does not really rise along with the rest of the market. We expect XRP to drop to the blue support zone on the chart first, between $0.315 and $0.333. From there, we expect XRP to rise again through a wave 2 of a 12345 Elliott Wave pattern.
We expect this wave two to settle between the 61.8% and 76.4% Fibonacci levels, which equates to a rate between $0.45 and $0.49. There, we may want to consider taking some profits, as the price could drop significantly in the long run and possibly even retest the low of $0.28. In the Premium environment, we will soon share a new analysis and long-term trading plan.”
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