Hi all! I hope you are fine. It has been a very long time since I haven't posted on defenddark.net! Today, I would like to share my thoughts on the Crypto Total Market Cap and expected XRP leap based on the Elliott Wave Structure.
Some of you might recall that we have made an analysis on 10-Jan-2023 and expected the Total Crypto Market Cap to reach $23.24 Trillion by January 2025. (NFA - Expectation Only)
Total Market Cap was $816 Billion (around $1B) during January-2025. Currently it is around $2.26 Billion. Let's remember that post:
1. Will XRP appreciate if Crypto Total Market Cap reaches $23 Trillion?
A stupid question but the answer is of course. XRP has 1.2097% of the Total Market Cap. Without even considering the developments, use cases, utility etc. XRP price, market cap, would be around $2.78. It is nuts, I hear you. But this is considering the current situation, remember. When the puzzle pieces come together, most of the useless crypto assets will be vaporized. And everyone will be able to see the main Art behind the scenes so far.
2. A view on the current price of XRP?
XRP touched $0.91 and completed Wave 1, then the corrective Wave 2 completed itself around $0.41 and XRP is currently around $0.51. We set a limit to $0.39 previously and XRP was so close to this level with the Wave2.
3. Has corrective Wave 2, completed.
According to ABC structure yes, and I know we are below the Blue Support point which makes me feel a little hesitant to call Wave 2 is completed but XRP in the lower time frames turned Bullish.
As you can see below, on the weekly XRP Chart, XRP is slightly below the Blue Support. Please keep in mind the range is between $0.6044 and $0.4623.
Although the MACD indicator is in red, you can see how lose it is at the moment and XRP even continues with the side moves here too.
4. Monthly Time Frame, April Close
We will close the monthly candle of April tomorrow. So let's have a look at it where we are. XRP price is still between the blue support and red resistance triangle. This is creating huge pressure on XRP for a huge break at the end.
So many people are asking if there is a chance of breaking lower and I honestly reply them Yes. The major 2 support levels are $0.4623 and $0.3917. As long as these are maintained our 5 Elliott Wave structure targeting $5.85 & $18.22 remains the same. And any further move between $0.3917 to $0.6649 are side moves and normal.
Our expectation for XRP was to break here in April and we are in the last 2 days of it. So let's see what will the coming days bring?
I will update you more often since we are ready for a break-out.
Note: If you are trading or buying any Crypto Asset you can use MEXC and my referral for you below. There are many opportunities they provide and easy to engage with their platform.
Wish you an excellent day!
Dark.
None of the targets represented on defenddark.com and defenddark.net are not financial advise. Please seek professional advise if you are trading or investing on any asset.