{"id":561462,"date":"2023-11-20T08:00:10","date_gmt":"2023-11-20T08:00:10","guid":{"rendered":"https:\/\/wncen.com\/?p=561462"},"modified":"2024-06-11T08:00:41","modified_gmt":"2024-06-11T08:00:41","slug":"xrp-price-correction-over-targets","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/xrp-price-correction-over-targets\/","title":{"rendered":"XRP Price Correction Is Over, Targets Set By Top Crypto Analysts"},"content":{"rendered":"

The XRP price has risen by around 6% in the past three days, triggering renewed optimism among investors and analysts. The two analysts Dark Defender and Egrag see the current trend as a turning point.<\/p>\n

XRP Price Correction Over?<\/h2>\n

Dark Defender has highlighted<\/a> a key development in the 4-hour time frame, observing the end of a corrective structure and identifying that XRP has reached an oversold area. “We can expect a move to $0.6649 first,” Dark Defender stated, referencing the Fibonacci retracement levels and a 5 Wave Elliott structure that remains intact, suggesting upward potential.<\/p>\n

Related Reading: Crypto Analyst: XRP Price Enters DCA Range, Suggests Buying Opportunity<\/a><\/div>\n

This is supported by the chart that shows XRP has managed to close above a critical level at $0.6131, which aligns with the Elliott Wave Theory’s rules for wave structures. The analyst further emphasized that the $0.87-$1.05 price target is still achievable in the near term if weekly closes maintain above the $0.6131 threshold.<\/p>\n

\"XRP
XRP\/USD, 4-hour chart | Source: X @DefendDark<\/figcaption><\/figure>\n

Egrag’s analysis focuses<\/a> on the gaussian channel and a symmetrical triangle pattern (in the 5-day chart), which are indicative of consolidating markets leading to a potential breakout. According to Egrag, “XRP Gaussian Channel & Symmetrical Triangle Unveil (Strong Support and Resistance Patterns): Within the framework of the Gaussian Channel, the alignment of support and resistance price targets mirrors other charts, adding weight to their significance.”<\/p>\n

Related Reading: XRP\u2019s Triple-Digit Forecast: Top Advocate Casts Doubts On Dream Valuation<\/a><\/div>\n

The provided chart by Egrag points to a \u201crobust support\u201d at $0.50, with additional support levels at $0.54-$0.55 (\u201csupport range\u201d) and $0.60 (\u201csupport threshold\u201d). The resistance levels are identified by Egrag at a macro resistance point and a symmetrical triangle trend line between $0.83 and $0.85. Egrag advises the XRP community to remain steadfast, saying, \u201cXRP Army STAY STEADY, anticipate the forthcoming mega pump, yet exercise caution by strategically allocating portions of your holdings.\u201d<\/p>\n

\"XRP
XRP\/USD, 5-day chart | Source: X @egragcrypto<\/figcaption><\/figure>\n

Combining these technical analyses, it’s clear that both analysts are pinpointing a convergence of technical indicators suggesting a bullish reversal for XRP. Dark Defender’s chart analysis, with its emphasis on Elliott Wave continuation, and Egrag’s identification of Gaussian Channel patterns, both point to a potential increase in the price, provided it remains above certain support levels.<\/p>\n

Price Analysis: 1-Day Chart<\/h2>\n

The analysis of the 1-day chart of XRP using the Fibonacci retracement level shows that the price is facing strong resistance in the short term.<\/p>\n

At the current price of $0.6194, XRP is just below the 0.382 Fibonacci retracement level at $0.627 and below the 20-day Exponential Moving Average (EMA) at $0.625. The confluence of these two indicators represents significant resistance in the short term. Remarkably, XRP has received important support at the 50-day EMA at $0.591, which could allow the bulls to regain the upper hand.<\/p>\n

For this to happen, however, resistance at $0.625 needs to be broken. The next price targets could then be the 0.5 Fibonacci retracement level at $0.688 and the 0.618 Fibonacci retracement level at $0.759, which abruptly halted the upward movement that began in early October and ushered in the current consolidation.<\/p>\n

\"XRP
XRP price hovers below the 0.382 Fib, 1-day chart | Source: XRPUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from Shutterstock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The XRP price has risen by around 6% in the past three days, triggering renewed optimism among investors and analysts. The two analysts Dark Defender and Egrag see the current trend as a turning point. XRP Price Correction Over? Dark Defender has highlighted a key development in the 4-hour time frame, observing the end of a corrective structure and identifying that XRP has reached an oversold area. “We can expect a move to $0.6649 first,” Dark Defender stated, referencing the Fibonacci retracement levels and a 5 Wave Elliott structure that remains intact, suggesting upward potential. Related Reading: Crypto Analyst: XRP Price Enters DCA Range, Suggests Buying Opportunity This is supported by the chart that shows XRP has managed to close above a critical level at $0.6131, which aligns with the Elliott Wave Theory’s rules for wave structures. The analyst further emphasized that the $0.87-$1.05 price target is still achievable in the near term if weekly closes maintain above the $0.6131 threshold. Egrag’s analysis focuses on the gaussian channel and a symmetrical triangle pattern (in the 5-day chart), which are indicative of consolidating markets leading to a potential breakout. According to Egrag, “XRP Gaussian Channel & Symmetrical Triangle Unveil (Strong Support and Resistance Patterns): Within the framework of the Gaussian Channel, the alignment of support and resistance price targets mirrors other charts, adding weight to their significance.” Related Reading: XRP\u2019s Triple-Digit Forecast: Top Advocate Casts Doubts On Dream Valuation The provided chart by Egrag points to a \u201crobust support\u201d at $0.50, with additional support levels at $0.54-$0.55 (\u201csupport range\u201d) and $0.60 (\u201csupport threshold\u201d). The resistance levels are identified by Egrag at a macro resistance point and a symmetrical triangle trend line between $0.83 and $0.85. Egrag advises the XRP community to remain steadfast, saying, \u201cXRP Army STAY STEADY, anticipate the forthcoming mega pump, yet exercise caution by strategically allocating portions of your holdings.\u201d Combining these technical analyses, it’s clear that both analysts are pinpointing a convergence of technical indicators suggesting a bullish reversal for XRP. Dark Defender’s chart analysis, with its emphasis on Elliott Wave continuation, and Egrag’s identification of Gaussian Channel patterns, both point to a potential increase in the price, provided it remains above certain support levels. Price Analysis: 1-Day Chart The analysis of the 1-day chart of XRP using the Fibonacci retracement level shows that the price is facing strong resistance in the short term. At the current price of $0.6194, XRP is just below the 0.382 Fibonacci retracement level at $0.627 and below the 20-day Exponential Moving Average (EMA) at $0.625. The confluence of these two indicators represents significant resistance in the short term. Remarkably, XRP has received important support at the 50-day EMA at $0.591, which could allow the bulls to regain the upper hand. For this to happen, however, resistance at $0.625 needs to be broken. The next price targets could then be the 0.5 Fibonacci retracement level at $0.688 and the 0.618 Fibonacci retracement level at $0.759, which abruptly halted the upward movement that began in early October and ushered in the current consolidation. Featured image from Shutterstock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":561465,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[3680,4531,13172,16289,10972],"class_list":["post-561462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ripple","tag-xrp","tag-xrp-price","tag-xrp-price-prediction","tag-xrpusd"],"acf":[],"yoast_head":"\nXRP Price Correction Is Over, Targets Set By Top Crypto Analysts<\/title>\n<meta name=\"description\" content=\"The XRP price has risen by around 6% in the past three days, triggering renewed optimism among investors and analysts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. 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His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Price Correction Is Over, Targets Set By Top Crypto Analysts","url":"http:\/\/wncen.com\/news\/ripple\/xrp-price-correction-over-targets\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ripple\/xrp-price-correction-over-targets\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/shutterstock_2095394119-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/shutterstock_2095394119-1.jpg?fit=2800%2C1502"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ripple","xrp","xrp price","xrp price prediction","xrpusd"],"dateCreated":"2023-11-20T08:00:10Z","datePublished":"2023-11-20T08:00:10Z","dateModified":"2024-06-11T08:00:41Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Price Correction Is Over, Targets Set By Top Crypto Analysts\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/xrp-price-correction-over-targets\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/xrp-price-correction-over-targets\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/shutterstock_2095394119-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/shutterstock_2095394119-1.jpg?fit=2800%2C1502\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ripple\",\"xrp\",\"xrp price\",\"xrp price prediction\",\"xrpusd\"],\"dateCreated\":\"2023-11-20T08:00:10Z\",\"datePublished\":\"2023-11-20T08:00:10Z\",\"dateModified\":\"2024-06-11T08:00:41Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/shutterstock_2095394119-1.jpg?fit=2800%2C1502","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/561462"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=561462"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/561462\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/561465"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=561462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=561462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=561462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}