Zooming into the daily chart, the XRP crypto recen
Zooming into the daily chart, the XRP crypto recently bounced off a significant historical level, which is its previous all-time high zone of $3.40, now acting as support.
This level was identified as crucial zone and the recent reaction at this level lends credibility to the thesis that XRP price is in the early stages of another bullish cycle.
While the market awaits confirmation, the current consolidation above this historic support suggests bulls are gaining strength. Price discovery may resume if XRP crypto manages to push past the next key resistance at $3.66.
Analyst Explains His Wave Theory and the Road Ahead Another critical angle comes from another analysts comparing XRP crypto’s current cycle to its 2017 performance. Back then, XRP price experienced three distinct growth waves.
If the same structure repeats, the experts says we are presently in “Wave 1″. This wave has build around the previous ATH near the $3.40–$3.66 range.
In the next “Wave 2,” as described by the analyst, would commence only if XRP price manages to clear the newly formed $3.66 threshold.
This next phase is where the real expansion begins, moving the asset well into price discovery territory.
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