XRP's market dynamics are shifting as analysts reassess its technical structure and potential trajectory. Investors are now watching key support levels and momentum shifts to gauge whether a rebound is on the horizon.
A recent analysis by XForceGlobal has adjusted the XRP technical structure assessment to maintain the integrity of a five-wave impulse pattern.
According to the analyst, a 50% bounce presents an opportunity for the fifth wave to complete, provided a protected low remains intact. The anticipated pullback has occurred, fulfilling the minimum conditions for further upward movement.
This adjustment aligns with previous projections, keeping the $5 to $10 target range in play. However, these targets will be refined as price action unfolds.
Despite the bullish outlook, XForceGlobal noted that continued market distribution could push XRP back into an earlier scenario, signaling uncertainty in short-term price action.
They have downgraded their idea due to a missing element in their criteria for a wave 1-2 formation. Specifically, they pointed out that distribution, whether in terms of time or size, has yet to be fully realized. Without this condition, they remain cautious about XRP’s trajectory. While their overall analysis remains positive, they stress the importance of monitoring market developments closely as they refine their targets
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