$XRP has broken out of its descending channel and climbed toward the green resistance line at $1.34, but it has yet to break above it.
The bounce from $1.21, which aligns with the 61.8% retracement and 100% extension levels, followed a completed 3-wave ABC decline.
For the recovery to gain credibility, the current pullback needs to establish a higher low, followed by a move above $1.34 to form a 5-wave advance.
A subsequent 3-wave pullback would provide stronger confirmation that a low is in place, potentially marking wave 1 of a larger 5-wave move.
#BTCRebounds80K
The bounce from $1.21, which aligns with the 61.8% retracement and 100% extension levels, followed a completed 3-wave ABC decline.
For the recovery to gain credibility, the current pullback needs to establish a higher low, followed by a move above $1.34 to form a 5-wave advance.
A subsequent 3-wave pullback would provide stronger confirmation that a low is in place, potentially marking wave 1 of a larger 5-wave move.
#BTCRebounds80K
