 ▲ XRP (XRP) / ChatGPT-generated image © |
As the price of XRP (Ripple) continues to experience sharp fluctuations, a 10-minute analysis video released by a certified Elliott Wave analyst is drawing market attention with the message that “this correction does not damage the bullish trend.” The analyst argues that despite short-term confusion, the broader bullish structure remains intact.
According to cryptocurrency-focused outlet Bitcoinist on February 6 (local time), the analyst explained via a video posted on X with an attached TradingView chart that the current decline should be viewed as a “predefined corrective process” rather than an emotional breakdown. He emphasized that reading the structure and managing expectations, rather than being swayed by volatility, is key for investors.
The analysis began with two scenarios: one in which impulse waves continue after breaking past the all-time high, and an alternative path that shifts into an expanded flat correction if the breakout fails. As the breakout failed to hold, the price moved into the second scenario he had warned about months earlier, and he explained that the C wave of the expanded flat is currently unfolding.
On the chart, the A wave was interpreted as the first countertrend decline following the upward breakout, while the B wave was seen as a “trap zone” that temporarily exceeded the structure and drew in late buyers. The ensuing C wave is progressing toward the 1.618 (161.8%) Fibonacci extension, which the analyst described as a phase of psychological capitulation marked by cascading stop-losses. He repeatedly stressed that psychology matters more than the numbers.
The expected range for the end of the C wave was presented as between $1.50 and $1.08–$1.09. This zone is described as a “high-collision box” where volatility peaks and bullish and bearish forces clash intensely. He added that confirming a bottom cannot be determined by a single price rebound; instead, a trend reversal is confirmed only after a complete five-wave decline followed by a series of sharp reversals and corrections.
Even so, the long-term outlook remains unchanged. XRP has already broken upward from a seven-year triangular pattern, and the current turmoil is described as an emotional retracement within an expanded flat. Once the C wave concludes, a new impulse wave could unfold, with the $20–$30 range cited as the next revaluation zone based on Fibonacci extensions and past pivots. The analyst concluded that “following structure rather than emotion is what separates short-term reactionary trading from cycle-based positioning.”
*Disclaimer: This article is for investment reference only, and no responsibility is assumed for any investment losses based on this content. The information should be interpreted solely for informational purposes.*