Can we set a new ATH before 2025?
This scenario presents a classic Ending Diagonal structure for Primary Wave (5), where XRP has likely completed Wave (4) near $1.90 and is now advancing upward to set new ATH. After entering price discovery and everybody FOMOs in, a significant portion of HODLers will start taking profits which will slow down the momentum and eventually leads to the formation of a bearish divergence marking the end of the impulse.
The first major resistance is the current high at $2.9 then the 2017's ATH at $3.31, from which we can expect a smaller degree correction.
For this scenario to unfold, we will need a steady momentum. Then we can expect it to set a new ATH before the end of year. Personally, my targets for this would be somewhere between $4 and $7 by late Jan to early Feb 2025, given the current pace and Trump's inauguration (and maybe SEC settlement?).
The first major resistance is the current high at $2.9 then the 2017's ATH at $3.31, from which we can expect a smaller degree correction.
For this scenario to unfold, we will need a steady momentum. Then we can expect it to set a new ATH before the end of year. Personally, my targets for this would be somewhere between $4 and $7 by late Jan to early Feb 2025, given the current pace and Trump's inauguration (and maybe SEC settlement?).
Transaction en cours
Hanging by a thread here.
If 1.97 gets taken out, then the deeper correction will be more likely.
Note
So far, found STRONG support at $1.96. I am leaning more towards the deeper correction idea, but lets keep all the options on the table.
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.