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The every day XRP chart has was a clear Elliott Wave case research, in response to crypto technician “Charting Guy,” who argues the newest rebound was corrective moderately than impulsive and sure precedes a deeper C-wave pullback towards August’s lows. In a submit on X, he wrote: “August bounce from $2.72 to $3.38 was a 3 wave corrective transfer up not like $OTHERS 5 wave impulsive transfer up, so I consider it was a B wave & we are going to possible revisit the August lows within the coming days/weeks for our C wave to finish the correction that began late July.”
XRP Correction Isn’t Over Yet
The annotated chart (XRP/USD) plots a creating five-wave sequence with waves 1 and a pair of accomplished in May and June, a vertical wave 3 peak into mid-July, and an unfolding A-B-C that may finalize wave 4. The A leg knifed off the wave-3 excessive, a B-wave restoration carried to $3.40, and the projected C leg descends right into a Fibonacci cluster that coincides with the August trough. At the time of the snapshot, XRP was quoted round $3.02881 on the every day shut, sitting between the 0.786 and 0.888 retracement rails.
Fibonacci scaffolding dominates the chart and defines the important thing ranges the analyst is buying and selling in opposition to. The retracement and extension ladder is printed as follows: 0 at $1.61184, 0.136 at $1.78405, 0.236 at $1.92231, 0.382 at $2.14363, 0.5 at $2.34100, 0.618 at $2.55653, 0.702 at $2.72195, 0.786 at $2.87293, 0.888 at $3.1273, and 1.000 at $3.4000.
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Above the prior excessive, the upside extensions that map the possible wave-5 run are marked at 1.272 ($4.16533), 1.414 ($4.63105) and 1.618 ($5.39272). The B-wave stall unfolded beneath the $3.1273–$3.4000 resistance band (0.888–1.000), reinforcing that area because the ceiling the market should clear to substantiate a completed correction.
Conversely, the proposed C-wave termination zone is anchored by the 0.786–0.702–0.618 stack at $2.87293 / $2.72195 / $2.55653, with the August pivot particularly highlighted at ~$2.72.
A downward-sloping magenta trendline from the wave-3 apex bisects the A-B-C, and the projected path drives worth right into a labeled “4” earlier than turning sharply increased into a brand new advance.
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The terminal “5” marker is positioned nearly precisely on the 1.414 extension close to $4.63105—in keeping with the creator’s personal wording that this represents a conservative goal zone—whereas the 1.618 print at $5.39272 frames an apparent stretch goal if momentum over-delivers.
Addressing neighborhood questions on his earlier increased goal of $8, the analyst replied, “is there wherever within the submit that claims no extra $8 goal?” and, when requested about an prolonged transfer in November, he answered “possibly. Maybe.” On positioning, he cautioned that “dips are by no means assured even when they appear possible,” including: “hodl imo… use buying and selling choices or futures or a buying and selling spot bag to make their brief time period features.”
The speedy learn is unambiguous: except XRP can reclaim and maintain above $3.1273 after which $3.4000, Charting Guy’s roadmap favors a retest of the August flooring close to $2.72195 to finish wave 4. Only after such a flush—or a decisive invalidation through resistance break—does his schematic open the door to the subsequent impulsive leg concentrating on $4.16533 to $4.63105, with $5.39272 reserved for an prolonged fifth in late-September or early-October.
At press time, XRP traded at $2.96.
Featured picture created with DALL.E, chart from TradigView.com
