XRP appears to have completed the first leg of a corrective wave in the 4-hour timeframe, according to crypto analyst Dark Defender.
After accurately calling the drop to $2.36, he now anticipates a renewed push toward $2.55, followed by a longer-term move toward $3.333.
Wave Analysis: A Completed, B and C in Progress
The current chart reflects an Elliott Wave correction, with Wave A now finalized. The analyst forecasts that Waves B and C are set to play out next — forming a short-term bullish retracement setup.
“Now A wave has been completed and we can see a rise towards $2.55 levels. We are heading towards $3.333 after the B and C wave in the 4-hour chart,” he wrote.
Key Levels to Watch
- Supports: $2.3502, $2.2222
- Resistances: $2.58, $3.3333
If XRP respects these wave structures, a break above the $2.58 resistance could catalyze a sharp upward movement toward the projected target.
What’s Next?
With a strong recovery bounce potentially underway, short-term traders may look for confirmation of Wave B strength before positioning for the larger move to $3.33. The bullish outlook hinges on maintaining support above $2.22 in the near term.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/xrp-short-term-price-prediction-based-on-wave-analysis/