XRP Roadmap!!!(Short-term)I hope you had a good weekend .
According to the news about XRP , I decided to share an analysis of it with you today.
So stay with me.
Ripple is planning to launch RLUSD Stablecoin on December 4th , which increased the price of the XRP( BINANCE:XRPUSDT ) token.
" Ripple is set to release RLUSD, a stablecoin backed by NYDFS approval. This strategic move enhances Ripple's foothold in regulated digital finance and strengthens its position in the stablecoin market, challenging giants like USDC.
RLUSD will provide a stable pairing for XRP amid Ripple’s ongoing legal battles.
Partners like Bitstamp, Moonpay, and Uphold are on board, ensuring compliance with top-tier transparency and security standards. "
Of course, we should be careful with this proverb: " Buy the Rumor, Sell the News ", of course, it depends on the cryptocurrency market conditions on December 4th , if the crypto market is bullish on December 4th , we can expect the continuation of the upward trend of XRP.
Now, let's go to the Technical Analysis of XRP .
XRP is currently moving in a Heavy Resistance zone($2.00-$1.50) and has so far failed to make a new All-Time High(ATH) (on the Binance exchange ).
Also, from the point of view of Classic Technical Analysis , it seems that XRP is moving inside an Ascending Triangle .
According to Elliott wave theory , XRP is completing microwave 4 of microwave 5 of main wave 3 .
I expect XRP to drop( -7% ) to at least the Potential Reversal Zone(PRZ) , Uptrend line , and 100_SMA(4H-TF) after breaking the lower line of the ascending triangle pattern .
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⚠️Note: If XRP can break the Heavy Resistance zone($2.00-$1.50), we can expect more XRP pump.⚠️
⚠️Note: If XRP goes below PRZ and Uptrend line, there is a higher possibility of a decrease.⚠️
⚠️Note: If XRP goes below $1.50, we can expect more dumps.⚠️
XRP Analyze (XRPUSDT), 1-hour time frame⏰.
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