Market Insights: XRP Correction Phase to Soon Conclude, Analyst Predicts Upward Trend
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Analyst to XRP Holders: Do Not Worry, XRP Is Playing Last Piece of Correction
The cryptocurrency market has been a whirlwind of activity recently, with many assets experiencing significant price swings. For holders of Ripple’s XRP token, it may be disconcerting to see the asset underperform in recent weeks. However, according to prominent crypto analyst Dark Defender (@DefendDark), there is no need for concern – the correction phase that XRP is currently undergoing will soon come to an end.
In a recent post, Dark Defender reaffirmed his positive outlook on XRP, highlighting the importance of the $2.222 level and emphasizing its technical significance throughout this cycle. The analyst’s wave count suggests that the current downward movement is merely the final piece of the correction, with the asset poised to break through resistance levels in the near future.
The analyst’s original forecast called for a move from $1.90 to $2.222, an ambitious target that has thus far been met. His most recent update highlights the precision of his mapping zones, including the crucial $2.36 level which acted as a key target and reaction point.
In addition to wave analysis, Dark Defender also considered Relative Strength Index (RSI) readings in his projections. As predicted by the analyst, oversold signals accompanied reversal points on the daily chart, further reinforcing the validity of his technical approach.
With XRP currently trading at $2.24, there is a strong possibility that it could experience a significant surge in value as approval for ETFs draws near. This event has the potential to propel the asset beyond its current resistance levels and trigger a sustained upward trend.
It’s worth noting that Dark Defender’s previous projections have been remarkably accurate, giving his analysis significant credibility among traders and investors. As such, it may be wise for holders of XRP to hold onto their assets rather than panic-selling in light of recent volatility.
Disclaimer: The views expressed in this article are the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to conduct thorough research before making any investment decisions, as all trading carries inherent risk.
Source: https://timestabloid.com/analyst-to-xrp-holders-do-not-worry-xrp-is-playing-last-piece-of-correction/
