XRP’s price has remained relatively unchanged, trading at $1.42 on Wednesday. With no major catalyst in sight, the crypto asset has continued to be rejected.
Key takeaways
Quick scan — what you need to know:
- XRP’s price has remained relatively unchanged, trading at $1.42 on Wednesday.
- With no major catalyst in sight, the crypto asset has continued to be rejected.
- Market experts believe that it is more likely to revisit lower support zones before any meaningful trend reversal takes place.
- Bearish Wave Targets $0.87 Crypto analyst CasiTrades stated that XRP remains positioned within a broader bearish wave structure, having continued to track as a subwave 2 inside a larger wave 5…
Background
What led here, in plain terms:
- The analyst explained that the current wave 2 structure remains valid unless the token forms a new low below $1.36.
- Within this structure, wave B extended deeper than initially expected and ended up reaching the 0.786 retracement level at $1.38, though this remains within acceptable parameters.
- The projected C wave target has been revised lower to $1.485, aligned with the 0.5 retracement level, instead of the earlier $1.51 level based on the 0.618 retracement.
- Over a broader timeframe, repeated rejection at resistance over the past month points to a higher probability of XRP moving toward lower support levels at $1.09 and $0.87 before any potential trend…
Why it matters
Why readers and decision-makers should care:
- The exec added, “What I generally prefer to do is reduce the risk of and eliminate any obstacles to our customers using XRP, XRPL, and other technologies that we want them to use.
- I prefer we use discounts and subsidies only where they either reflect a real benefit (for example, if it costs us less) or where they incentivize taking initial adoption risks.” The post XRP’s…
- appeared first on CryptoPotato.