XRP/USDT Weekly Chart Hints at Potential ATHs as Price Action Aligns With Elliott Wave Progression

The XRP/USDT weekly chart continues to attract attention as its price action aligns with an Elliott Wave progression, indicating the potential for significant upward movement.

Technical analysis of the XRP/USDT weekly chart reveals a fascinating Elliott Wave progression, hinting at the potential for substantial upward movement. Strong technical indicators and market dynamics contribute to XRP's resilience amidst broader market volatility.

A Closer Look at the Elliott Wave Progression

XRP's price action on the weekly chart aligns remarkably with an Elliott Wave pattern, highlighting several crucial points:

These targets serve as critical resistance points, suggesting the potential for XRP to reach new all-time highs (ATHs) once Bitcoin forms a bottom.

Strong Support and Recovery Amid Market Liquidations

Despite a broader market downturn, XRP has shown strong resilience, evident in the following price movements:

Future price action will depend on sustained buying momentum and the ability to overcome strong resistance levels.

Examining Whale Activity and Its Impact on Price

Large wallet holders (whales) have played a significant role in influencing XRP's price trajectory:

XRP's price peaked near $2.43 before a correction to $2.29, indicating strong selling activity. However, large investors resumed accumulating XRP in late December, signaling optimism and sparking a brief rally.

If whales continue selling at similar volumes, XRP could test lower support levels. Conversely, accumulation could push the price back toward $2.40 or higher.

Macro Triggers Essential for Long-Term Price Movement

Analysts have identified several conditions that are crucial for XRP's price trajectory. Key triggers include:

Additional factors like U.S. legislation and Ripple's strategic partnerships could further enhance investor sentiment and boost XRP's valuation.

Market Sentiment and Strategic Decisions for XRP Holders

While XRP remains poised for growth potential, analysts advise caution amidst the market uncertainty. Premature selling could lead to missed opportunities, especially if XRP surpasses previous ATHs in response to key triggers. The upcoming milestones present a strong case for holding XRP tokens as the market unfolds.