00:00Hello and welcome to another update video on XRP.
00:05Wow, what a move and XRP is currently moving from support towards resistance
00:12or rather towards this next pivot area, target area,
00:16which I shared with you in the last video update earlier today.
00:21Quite an aggressive move at the moment, 8% up
00:24and that is all very much in line with my idea that the price should be moving up.
00:30In both counts, actually, in both scenarios,
00:32we were watching for higher prices here on the smaller time frame, right?
00:39Because we said either this fourth wave bottomed here on the weekend
00:45and this is a wave 1 to the upset.
00:47It was a 5-wave move, so we were tracking a corrective pullback in wave 2
00:52and then from there we said, okay, a third wave should take us higher
00:55and then we should get a wave 4 and a wave 5
00:59and that can take us into this blue zone up there around 380 to 4,
01:03what is that, 430, yeah, roundabout.
01:07Or even in a more bearish scenario, this initial move down was only the A wave.
01:13Then we have an ABC structure in a B wave
01:16where specifically this zone is relevant.
01:18So we said either way, in both scenarios,
01:22we should see the price move towards this area next
01:24and then we can get a rejection there and a C wave down.
01:27So the ideal entry point here was, of course, the zone,
01:32the support zone, the 1-2 setup, and now we are on the move.
01:36So we've now moved quite quickly within a couple of days
01:39from support into target area, into resistance,
01:42and there could be some resistance,
01:44especially in this area around 330 to 340.
01:50What I'm watching for is obviously if the price can get to 347
01:54because this would be the first ideal target for this third wave.
01:58We can get there, that's the 138% extension here.
02:02Then we can add support for the wave 4 pullback.
02:04Ideally, we would see some extensions, however,
02:07so that we can, in the next, oops, in the larger move,
02:11even get to $4 plus, yeah, the next move up.
02:14So, yeah, quite a quick recovery here.
02:18There is some structural resistance possibly in this area here
02:21around 330 as well.
02:23So, yeah, this would be an area where there could be
02:25quite some resistance, so pay attention to it.
02:28For now, the trend appears to be up
02:30and we are following currently the roadmap.
02:33What I wanted to share with you as well is the larger time frame,
02:35and this is the shorter time frame.
02:37I mean, naturally, the price now needs to hold above certain levels
02:41to keep this upside momentum intact, right?
02:43So, maybe before we go to the larger time frame,
02:46let's just discuss what are those levels.
02:49I don't want to have the support zone too tight.
02:52So, the one I'm going to give you that keeps the local uptrend alive
02:58is the one between the 50% retracement and the 23.6% retracement.
03:03So, especially here, the $3.08 level needs to hold
03:06to keep the local uptrend intact.
03:08This is micro support, impulsive support.
03:11Actually, I could move it a little higher,
03:13but sometimes you get a lot of volatility.
03:16So, technically speaking, $3.13 ideally would hold,
03:20but as long as we're holding $3.08, I would call it an impulse.
03:25So, yeah, the overall momentum is up,
03:31and that gives you at least a level here to watch.
03:33What we will do now is we're going to remove the support zone here.
03:37We don't need that one anymore.
03:38Now, let us also take a look at the XRP larger time frame chart,
03:43just so that it's clear that this was just kind of the micro.
03:47Looking at the larger time frame,
03:49I think we have some promising price action here.
03:51Price is pushing, and we could be on our way to $3.80 to $4.30 next.
03:58Yeah, these are the next FIB levels.
04:02And just so that you know, in that white count I showed you,
04:06this would be it.
04:07A wave, B wave, C wave, in wave, B.
04:10But then the price could try another rally from there,
04:12from the lower support region.
04:14But for now, as long as those micro support levels
04:16that I just shared with you are holding,
04:19the overall pressure is up,
04:21and things are in line with the preferred scenario,
04:24which still suggests we could be on our way higher,
04:27specifically because we saw a five wave move up from the weekend low.
04:31That was a good clue, right?
04:33Those are our clues.
04:34That's why we're tracking those smaller time frame charts.
04:37So, yeah, that's the update on XRP.
04:39I hope you liked the update.
04:41If you did, please hit the like button, leave a comment, and subscribe.
04:44And if you really liked the content,
04:46then please check out the channel membership.
04:48Thank you very much.
04:50Bye-bye.
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