The correction in XRP is on the verge of completion, and a relief bounce should be anticipated. XRP is likely to test major support zones before a bullish wave. The expert opinions of the best XRP analysts.
The XRP correction is nearing a critical turning point, which could mark the final point of its downward trend.
As it was pointed out in the prominent analysis posted on the social network X by CasiTrades, XRP has recently fallen below its 0.5 retracement on Coinbase, touching the crucial support areas of around 1.84 and 1.88 on Binance.
Source – X CasiTrades
The token shall experience a relief bounce and end with a final bounce downwards to touch the macro 0.618 support at around 1.65. This is believed to be the probable bottom that would lead to a major bullish reversal of XRP and the altcoins.
CasiTrades indicated that the fact that Bitcoin and XRP are simultaneously correcting is a sign that this bottoming may become a reality in the near future and that a new wave of rallies would follow in both markets.
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XRP Analysts Warn of Further Near-Term Challenges
Although there is an indication of relief, there are those analysts who emphasise caution. The inability of XRP to sustain important values around $2.30 to 2.00 would open the door to additional declines, and the technical trade would plummet to even lower levels as low as 1.25 in a worst-case scenario.
This will be a 50 per cent adjustment of the present prices, which will underline the magnitude of the correction and the significance of future price movement.
Nonetheless, AI-based predictions indicate that such a phase of correction may not last long, and XRP may be able to recover and trade higher than 2.20 by the end of the month.
The outlook trades an adverse near-term with a bullish medium-term recovery, and the correction is finished.
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Ripple Effect: What Comes After the Correction?
After XRP passes its correction stage around $1.65, the market structure will likely turn bullish in a short time.
Technical views indicate a second Wave 5 upsurge to higher levels. The XRP-dominated altcoin market can start its macro Wave 3, which will generate a momentum that will vary in strength among various cryptos because of their positions in the market cycle.
This correlation with Bitcoin, which may hit bottom in the 80Ks, supports the general market recovery.
Source: https://www.livebitcoinnews.com/xrp-news-analyst-predicts-xrp-correction-nearing-its-final-phase/
