- XRP analyst Ergag Crypto and another analyst unravel XRP’s price dynamics.
- XRP white flame range suggests 191-day retracement.
- Analyst says caution is advised and long-run will pay off.
Crypto and XRP price analyst Ergag Crypto provides a detailed analysis of XRP’s price action, unveiling the significance of the white flame on the XRP price chart. In a comprehensive post, Ergag Crypto delves into four key levels—SSPM, Structural Formation, Sentiment Status, Macro Range & Psychological Zone.
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Since the impactful July pump, XRP has undergone a 191-day retracement, testing the resilience of investors. Amidst the turbulence, the MACRO outlook remains steadfast. The White Flame Range emerges—a potential inferno for some, yet a rare buying opportunity for others.
Caution is advised, as navigating this flame demands strategic buy orders. The XRP Army stays steady, facing the trial with patience and unwavering faith, anticipating future rewards. According to Ergag Crypto, the White Flame may flicker, but its burn promises a payoff. He advises to keep the faith, stay steady, and let the journey unfold.
Another crypto analyst weighs in, focusing on the daily time frame. Highlighting the support at the daily line (green) and nearing oversold RSI figures, the analyst suggests a potential double tap on both RSI and price figures, identifying a daily support level at $0.52.
Introducing Elliott Waves, the analyst predicts potential targets for the 3rd Wave at $1.88 and $5.85, contingent on market conditions. The completion of the 2nd Elliott Wave could extend to $0.39 if market challenges persist.
Unchanged targets for the 3rd Wave include daily resistances at $0.60, emphasizing the crucial marker at $0.6649 in the ongoing XRP market dynamics. Investors are urged to carefully consider these insights in navigating the crypto market’s intricate landscape.
XRP’s current value stands at $0.550443, with a 0.20% uptick in the last 24 hours. The substantial 24-hour trading volume is $1.98 billion, contributing to an overall market cap of $29.91 billion.
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