The price of XRP first rose sharply, and then fell sharply

Ripple analisten: XRP koers eerst flink omhoog, dan hard omlaag

Crypto Insiders Premium members receive weekly fresh technical analysis of over 20 cryptocurrencies. You will also connect with experienced traders and analysts and a community of over 1,000 members.

In this article, we share a recent analysis of Ripple (XRP) that was previously shared in our featured group. Not yet a member or still have questions after reading this article? Then try our premium membership for free for 30 days.

XRP technical analysis price

In recent days, we have seen many prices in the cryptocurrency market reach lower and lower peaks and troughs. However, the XRP price basically continued to consolidate sideways. Therefore, analysts at Crypto Insiders expect XRP to make another rally soon. Analysts are still not particularly optimistic about XRP, as they recently explained to Premium members:

XRP seems to be forming Elliott wave pattern 12345 in the medium term and it is now in the corrective second wave. As part of this, we expect the ABC Elliot Waves pattern to be the inside waves. This pattern is expected to be between 50% and 76.4% Fibonacci, which here equates to a rate between $0.425 and $0.495.

However, while we are expecting a rally initially, this does not mean that we remain bullish on XRP. We give the chart a “rejection” label, which means we expect a significant decline in the long term. So we will be patient before taking a position with XRP. In the premium environment, we share another outlook and indicate which area we might want to enter.”

This analysis was shared with members on February 28th. Analytics are usually shared 48 hours in advance in our Premium environment, and therefore may be a bit out of date

Instantly receive more crypto analytics in our premium environment

The cryptocurrency market is volatile and constantly changing. Often, after each increase, a decrease follows. Our analysts So use Bybit To also take advantage of lower prices through short positions. With a premium membership, you receive weekly technical analysis of more than 20 cryptocurrencies and learn from experienced analysts and traders how to profit from them. For more information, take a look at our Premium info page and try the first 30 days for free.

See also  Copper prices fall on concerns about rising interest rates and the strength of the dollar Economy

Watch the latest live stream of premium members

Read more about ripple

Disclaimer: Investing involves risk. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and advice provided on this site is based on the insights and experiences of our analysts. So, these are for educational purposes only.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top