- Altcoin XRP prepares for third test at $1.7 price range.
- Could this be the deciding factor for Ripple’s altcoin pumping?
- Analyst expects a massive drop to $0.87 if XRP fails to break above $1.8.
The crypto community is pleased to see the final month of Q3 kick off with both Bitcoin (BTC) and Ethereum (ETH) trading at promising price levels. For instance, BTC continues to hold at $84,000 while the price of ETH is holding strong at $2,600. Meanwhile, other altcoins are showing bullish momentum as well. Presently, altcoin XRP prepares for third test at $1.7 price range, could this be the deciding level?
Altcoin XRP Prepares for Third Test at $1.7 Price Range
The price of XRP is currently trading at the $1.48 price range, showing that the asset is down by over 3.4% in the last 24 hours and down by over 3.7% in the last 7 days. However, in terms of the last 30 days, the price of XRP is trading well above the $8.6% mark. The asset will still need to see a significant surge in prices if it is to break its previous ATH price levels.
As we can see from the post above, this reputed crypto expert and XRP enthusiast states that XRP’s third test of $1.7 could be the most important price test for the asset yet. In detail, the analyst says that for the next few days, she will be watching for XRP to complete one more wave up and test the major $1.65 – $1.7 resistance again. So far, XRP has been consolidating under this level for weeks.
This has led to her noticing that the subwaves still don’t look complete when zooming into W5. If the asset is about to end a tiny consolidation, then it is likely that the asset needs another test of that resistance. What’s more, she states that this move is already printing bearish on the macro RSI, so she is watching for another degree of bearish divergence. If XRP does, that would give much better confirmation that W5 is exhausted and we’re completing W1.
Could This Be the Deciding Level For an XRP Breakout?
The analyst then stresses that this does not mean to long XRP here. Since W5 has already reached its .5 extension, traders would essentially be longing W5 of W5 of W1 at this point. That’s a lot of 5s to suddenly get FOMO. Once this completes, she is set on preparing for the larger correction with $1.26, $1.10, and potentially $0.87 as possible dip targets. That said, seeing a strong push through the $1.80 price range with RSI breaking its previous high instead of printing divergence, would be the only thing that would confirm no dips going ahead.
