XRP: Likely to Move Lower

Ripple’s XRP is expected to retrace further into the green Target Zone ranging from $1.03 to $0.38 as part of a blue downward impulse, which would complete the higher-level turquoise wave B. Afterward, wave C should drive price sharply higher, ultimately setting a new high for the larger wave (Y) above the resistance at $4.09. However, if bulls manage to push the altcoin above the $3.19 resistance and the $4.09 level in the near term—a scenario we estimate has a 30% probability—it would suggest that the turquoise alt.B wave has already been completed, and our Target Zone would no longer be reached.