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XRP Price Nears ABC Correction with Clear Targets for Buying
As the cryptocurrency market remains volatile and unpredictable, Ripple’s native asset, XRP, appears to be nearing a crucial correction phase. According to Blockchain Backer’s analysis, the recent price action has aligned with historical support levels and the 0.786 Fibonacci retracement, further reinforcing this zone as a potential reversal area.
The $1.40 – $1.50 zone stands out as a strong entry point for buyers seeking a discounted opportunity, as it presents a 24% decline from XRP’s current market value. If the past pattern holds, the altcoin could see a recovery once Wave C plays out. For now, however, the cryptocurrency continues to face market volatility and aims to avoid a deeper price crash.
The sudden rebound in XRP’s price, which has seen it jump by 9.62% in just 24 hours, has caught the market off guard. This upward momentum, despite the broader market turmoil, defies current negative trends.
Source: https://bitcoinist.com/xrp-price-nears-abc-correction/
