- Ripple’s XRP macro structure points directly to $2.03.
- Analyst believes XRP is preparing for a massive upward move.
- The altcoin shows a bullish trajectory for XRP soon.
Despite falling altseason sentiments, the crypto community continues to hold out hope for a bullish altseson peak phase to play out. Presently, both BTC and ETH prices have been falling dramatically, leading many analysts to believe that an altcoin rally won’t play out. One analyst is keeping their hopes up for Ripple’s XRP. At the moment, the XRP macro structure points directly to $2.03.
XRP Macro Structure Points Directly to $2.03
The crypto community is torn between making risk-hedging decisions, as most analysts confirm that the crypto bull cycle is in a true bear market, and accumulating promising altcoins, as other analysts believe an altcoin rally is in the works. Ever since ETH finally set a new ATH last quarter, expectations for altseason to arrive had been growing increasingly. However, since the $20 billion liquidation event, those hopes have been squashed.
Amidst the many altcoins showing strong bullish indicators, Ripple’s XRP is one of the most bullish assets in the current market. Despite the price of XRP falling to a lower price over the past week, some analysts believe this is just a small dip before the price of XRP can enter its final wave, where it shows the potential of hitting a new ATH price in the coming weeks and perhaps months ahead.
As we can see from the post above, this reputed crypto analyst says that XRP is still likely making its way down toward the macro 0.5 fib support at $2.03, and the way the price is moving fits that expectation. This move was never going to be a straight drop, she confirms, but rather that this is Wave 2 being corrective. The analyst says that the choppiness we’re seeing is exactly how the market should behave.
Additionally, she states that the only invalidation of the $2.03 support touch is a decisive break above the macro 0.382 level at $2.41. That level remains the line in the sand. As long as price stays below $2.41, the structure overwhelmingly points toward a final sweep of $2.03 (0.5). There’s also a deeper, still-valid macro target at $1.65 (.618).
Altcoin Shows Bullish Trajectory
Wave 2 corrections commonly reach the 0.618, and the longer XRP ranges without breaking resistance, the more probable it becomes that price may need that level to generate the momentum for the true reversal. A move to $1.65 would not be bearish. It would actually build the kind of loaded momentum needed for a powerful macro Wave 3 into new all-time highs. Finally, she says that this entire range is an opportunity.
In conclusion, the analyst says that this is not the time to sit back and complain about price movement, but rather a time for smart accumulation to occur at these fib levels, not the breakout. The analyst ends her post by saying that these are signals that the market is gearing up for its next major trend and that XRP is simply finishing its structure before joining the rest.
