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🚨XRP Market Update: Pink Scenario Confirmed. Final Support THIS WEEK! 🚨
Happy Monday Everyone! Over the weekend, XRP failed to reclaim $2.00 as support, which means the pink scenario is now confirmed.
📉We’re in subwave Wave 3 down, with momentum and RSI making new extremes. The next key levels to watch are $1.73 for potential short-term relief and $1.64, the macro .618 support, as the likely final low of this correction.
There’s a chance price reaches $1.64 directly in this wave 3 move without a relief first. If that happens, we wouldn't need a second test of the area as support. I expect a strong bounce from $1.64 that would likely open the door for a powerful move back above $2.41–$3.00 and beyond! I am expecting this to play out by Friday Dec. 19, major time fib landing there! 🚀
This is the market making its decision right at the final moment! We'll be ending this correction very soon! So exciting heading into the week, and just in time for the holiday celebrations! 😍
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🚨XRP Continues Defending the .5 Macro Support! Stay Calculated on Any Breakout! 🚨
XRP continues to respect the macro .5 support at ~$2.03, and now we’re seeing another critical test of that level. After the strong reaction a few days ago, price pushed into the local trendline resistance near $2.165, which is becoming more and more defined as multiple touches build structure on the chart.
📉From there, XRP pulled back to the macro .5 again. We did see a slight dip under the fib, but the structure still looks okay. Importantly, price did NOT break below $1.97, which is the line in the sand for confirming the pink (bearish) scenario that targets the macro .618 at $1.64. As long as $1.97 holds, the deeper retracement scenario is not confirmed.
The move below the .5 support also created a bullish divergence up to the 4H timeframe, which gives us short-term support for another reaction upward. We want to see XRP reclaim the macro .5 at $2.03 and hold it as support. Remember - we don’t chase resistance breaks! The ideal entry is always on the backtest of support, not the initial breakout. A clean breakout could first reach the trendline around $2.14, then pull back to the $2.03 fib for confirmation.
Our major levels have not changed:
-Macro supports: $2.03 (.5) and $1.64 (.618)
-Macro resistance: $2.41 (.236) breaking this confirms the bullish purple scenario
If purple plays out, the next measured targets stand around $2.75 and $2.90. 🚀If pink takes over, $1.97 breaks and XRP works toward the $1.64 major support. ⏬
No official confirmation yet, but I wanted to explain short-term what we could be seeing and remind you to NOT CHASE the breakout! Stay calculated to remove emotions! ☺️
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If you're wanting to learn how to read charts, predict future moves, and trade - now is a great time to join the discord server!
We'll be starting back at lesson 1 on Monday! ❤️
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