XRP Analyst Sees Stabilizing Momentum Ahead of Price Shift
An analyst has presented an intriguing chart for XRP as its price dips. The relative strength index is forming a higher low, indicating that downside momentum may be weakening before a potential price shift. This pattern is consistent with how Elliott Wave setups tend to develop, with internal momentum recovering before the larger move becomes visible in price.
The RSI bottom and what it suggests both analysts see momentum stabilizing ahead of any potential price confirmation. Key levels defining the setup include support at $1-$0.95, with $0.75 as an additional key level and $0.52-$0.60 serving as deeper structural support.
On the upside, the bullish thesis strengthens with sustained closes above $1.30-$1.60, then $1.96, and then $3-$3.60. A decisive break above the Wave 1 high would provide the clearest confirmation that Wave 3 is underway.
The market cap argument suggests that if Ethereum reaches $20,000, XRP could capture a comparable market cap position, putting it near $40. Even at half that market cap, XRP would sit near $20.