Hi there all. I hope you are all fine.
XRP is continuing her price action between the $0.55 - $0.30 band since May 2022. For 7 Months we have found a place between these major Resistance and Support levels.
1. XRP Technical View in 4 Hour Time Frame
When we look closer, we observe XRP is above the Ichimoku Clouds in 4 Hours, however had a red signal below on the wave trend indicator. In normal circumstances, we expect to see a correction towards $0.36 levels within short amount of time.
Although it is clear XRP had a reversal from $0.41832 we could expect to support around $0.36 levels at a minimum.
2. Daily Time Frame
The daily time frame preserves its bullish position since the indicators are still green at the moment. However, we also see the correction around $0.42 levels in the daily below.
My expectation on XRP is to have a correction towards $0.37 - $0.36 levels and continue to re-test $0.42.
Even if we see higher price actions around $0.42, let's re-iterate the importance of $0.55. Above, you see the blue resistance and the Ichimoku clouds in green, as long as XRP sits above these levels then we will be able to discuss the bullish actions
Conclusion
It has been a very long journey waiting for XRP to finalize the correction and it is very hard for most of the ones who believe in XRP. Although it's been almost 5 years since the ATH, I am confident this correction is so close to the finishing line. Whether XRP touches $0.22 or not, technically she will continue the Waves considering the tremendous utility underneath.
In summary, definitive points are $0.55 above and $0.30 below still. And we will defend our steady position.
As always, I'd like to point out that none of the targets represented on defenddark.net and defenddark.com is financial advice. The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.