XRP Correction Continues: Elliott Waves Theory Predicts Wave 2 At $0.38

Name	Symbol	Market	Market Cap ($)	Algorithm
SHIBA INU	SHIBUSD	Crypto	11,196,336,592	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

SHIBA INU

SHIBUSD

Crypto

11,196,336,592

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00000100	5.26%	0.00002	0.00002	0.00002

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00000100

5.26%

0.00002

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.00002	0.000018	0.00002	0.000019	0.00000662 - 0.000048

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.00002

0.000018

0.00002

0.000019

0.00000662 - 0.000048

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	19:21:32	69,828.00	0.00002	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

19:21:32

69,828.00

0.00002

USD

Price x Volume	Volume	Base Symbol	Related Pairs
49,588,047.30	152,898,845,898.24	SHIB	SHIBEUR	SHIBGBP	SHIBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

49,588,047.30

152,898,845,898.24

XRP Correction Continues: Elliott Waves Theory Predicts Wave 2 At $0.38

21/04/2023 10:00pm

NEWSBTC

Since reaching its yearly high of $0.5842 on March 29th, XRP has experienced a significant price drop. The token has lost its bullish momentum and failed to breach higher levels, disappointing investors who were optimistic about the uptrend of one of the largest cryptocurrencies in the market. It is worth noting that XRP’s recent price drop is part of a wider market correction affecting the entire cryptocurrency market. Despite this, trader and crypto analyst “Dark Defender” believes that there is still further correction ahead for XRP. Related Reading: Is The Final Shakeout Moment Coming For Bitcoin? Expert Weighs In No Signs Of Recovery For XRP? On April 1st, Dark Defender made a bold prediction for the price of XRP based on Elliott Waves theory. According to Dark Defender, the token completed its first wave (W1) at around $0.59 and is expected to enter a second wave (W2) that will find support between $0.48 and $0.38. As of now, there have been no changes to Dark Defender’s prediction, and XRP remains in correction unless it breaks its resistance level of $0.59 and stays above it for three consecutive days. Dark Defender has provided a list of support levels for XRP, including $0.4812, $0.45544, $0.42044, and $0.38813. The analyst believes that XRP will finish this last correction at one of these levels before targeting the $3 mark. Furthermore, the analyst has provided a bullish prediction for XRP’s future, stating that the third wave (W3) of this structure is expected to reach between $2 and $3.47 by the end of this year. However, this wave 3 above $1.33 will be the predecessor of the Grand Wave 3. In scenario 2, Dark Defender predicts that XRP will continue to rise in value. As of this writing, XRP is currently trading at $0.4582, which represents a drop of over 2.6% in the last 24 hours. On wider time frames, the token has recorded significant drops of 11% and 9.2% in the seven and fourteen-day time frames, respectively. This means that if Dark Defender’s prediction is correct, XRP may still have plenty of downtrends to experience, potentially reaching the lower lows of March 21st at $0.380. XRP’s Wide Adoption Continues To Increase XRP has been gaining traction in recent months, with its unique utility in cross-border payments attracting attention from financial institutions and investors, which has been raising with its continuous innovations to provide a better service to its users. According to pro-XRP lawyer John Deaton, Uphold, a digital platform that allows users to buy, sell, and hold various cryptocurrencies and traditional currencies, currently holds $1.04 billion in XRP, making XRP the single largest asset holding on the platform. This amount is significantly greater than Uphold’s Bitcoin holdings, which currently stand at $131 million. In addition, the token volume accounted for 28.33% of total transactions on Uphold’s platform. This indicates a growing demand for XRP among Uphold’s user base and suggests a positive outlook for the cryptocurrency’s future growth and adoption. Related Reading: Shiba Inu Whales On Buying Spree, Add 311 Billion Tokens During Price Dip Featured image from Unsplash, chart from TradingView.com

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