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XRP Update in 4H Chart!

Hi there. We are continuing to pass through the bloody area of Crypto. However, even in the corrective waves, we can see the impulsive waves.

Risky to say XRP is to hit $0.66?

We can see the foziness through entire markets in the world. XRP had her share with the corrective actions. But is XRP going to continue falling towards $0.22331 as we predicted on 27 February 2022 when XRP was around $0.75? (Please see the below tweet)

Well, we were talking about $0.22 four months back, XRP touched $0.33 and got close to this expected level.

However, considering current daily and weekly charts, we said the XRP, unfortunately, is oversold and currently is on the support level.

It is risky to say XRP to touch $0.66 at the moment, however, it is likely to see a double tap around $0.33 and a rally towards $0.66.

I do not recommend leveraging or day trading however, if I was in it I would have always considered the Stop Loss which is currently at $0.33 - $0.30

If XRP does not break $0.33 (which we told could be used as a stop loss) she will target $0.66. After $0.66 we need to check the monthly indicators where we are and whether we could have further corrections or not.

Let's now check the 5 Elliott Wave structured on the 4 Hour (4H) time frame.

As we can clearly see below, 2nd wave of ABC correction on the 4H time frame is almost formed. Although the monthly time frame trumps the weekly and daily time frames, an instrument in an oversold area is expected to make a reversal move. This is the moment where the majority is in fear and panic expecting more and more dip and the bigger players patiently await this exact moment.

We can reflect the critical levels:

Resistances: $0.39367, $0.46453, $0,56997

Supports: $0.36073, $0.33362

Having a move above $0.46 strengthen the $0.66 expectation in 4H chart. Have a wonderful weekend!

As always, Important Note: None of the targets represented here is financial advice. Do your research in due diligence and take responsibility for your actions when buying or selling an instrument.

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