XRP has been in a very strong expansion impulse structure in the early stages after its IPO and reached a significant major high with Yellow Wave 1.
From there, this coin fell into a very long sideways corrective phase, creating Yellow Wave 2. In 2024, however, XRP was able to break out from this corrective phase and terminate Yellow Wave 2. With this breakout, XRP set the beginning of a new impulsive fractal with Green Wave 1 to initiate a long-term major uptrend.
However, after XRP broke out and finished Green Wave 1 at a new all-time high of $3.66, the coin initiated a new correction into Green Wave 2.
We expect that Green Wave 2 has been terminated at $0.98. From there, we expect the market to regain strong long-term bullish momentum, reaching new all-time highs and building Green Wave 3.
For the completion of Green Wave 3, we have set a price target zone, which nominally shows what XRP could potentially reach.
Price Target Levels
- 161.8%: $6.90
- 200%: $8.30
- 261.8%: $10.56
We expect XRP to reach these levels in the long run. However, these levels are more of a guideline, and the market could potentially expand even higher within an expanding bullish Wave 3 or even fail to reach this zone.
However, the market has bottomed out, and we are now searching for the perfect entries to allocate cheap positions within this market.
Therefore, we have defined a Fibonacci buying zone and an alternative scenario that could potentially happen in the short term.
This alternative scenario is weighted with a lower probability of occurring, but it should not be ignored, as it remains strictly relevant for the long term at the current price levels.
Our primary scenario clearly shows a Fibonacci buying zone after XRP created a short-term first bullish fractal with Dark Blue Wave 1. Therefore, we have set a Fibonacci buying zone.
Long Entry Levels
- 78.6%: $1.13
- 88.7%: $1.06
Within this zone, we expect the current short-term correction to come to an end, and we expect to gain short-term returns.
However, if this zone breaks down and XRP falls below $1.06 (88.7% Fibonacci level) and breaks below $0.98, we expect XRP to reach our extended Fibonacci buying zone.
Those levels represent a major potential end of the long-term Green Wave 2 and extremely cheap prices for XRP.
Alternative Long Entry Levels
- 123.6%: $0.81
- 138.2%: $0.70
- 161.8%: $0.53
If anything happens with this coin, we will update you immediately.
Kind regards,
Monalytics
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