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According to Crypto’s technician Charting Guy, the daily XRP chart has been transformed into a clean Elliott wave case study. He argues that the latest rebound is a correction rather than an impulsive, likely ahead of the deeper C-wave pullback against August lows. In X’s post, he wrote:
The XRP fix is not finished yet
Annotated Chart (XRP/USD) plots waves 1 and 2 completed in May and June, 3 wave peaks perpendicular to mid-July, and 5 wave sequences that evolve with the unfolding ABC that completes the waves. trough. At the time of the snapshot, XRP had been cited around $3.02881 in daily closures, sitting between the retracement rails of 0.786 and 0.888.
Fibonacci’s scaffolding controls the charts and defines the key levels that analysts are trading. The retracement and extension ladders will be printed as follows: 0 $1.61184, 0.136 $1.78405, 0.236 at $1.92231, 0.382 at $2.14363, 0.382 at $2.34100, 0.618, 0.618, 0.618, 0.702 at 2.72195, 2.8868 at 2.8882 $3.1273, 0.000 at $3.4000.
Related readings
Upside extensions that map forward wave 5 runs after the previous high are marked as 1.272 ($4.16533), 1.414 ($4.63105), and 1.618 ($5.39272). $3.1273–B Wave stalls will be rolled out under the $3.4000 resistance band (0.888-1.000), and the region must be tightened as the upper limit and cleared the market to see the completed revision.
Conversely, the proposed C-wave termination zone is fixed at 2.87293/$2.72195/$2.55653 by the 0.786–0.702–0.618 stack, with the August pivot being particularly highlighted at $2.72.
The downward magenta trendline of Wave-3 Apex divides ABC, and the projected path drives the price to the label “4” before rising sharply.
Related readings
The terminal “5” marker is placed almost exactly on the 1.414 extension, close to $4.63105. This coincides with the author’s own language representing the $5.39,272 1.618 printing, frames obvious stretch targets if momentum is excessive.
The analyst addressed community questions about his previous high goal of $8, replied, “Is it somewhere that says there are no more $8 targets?” And when asked about the extended November move, he replied, “Maybe. Maybe.” In positioning, he warned that “DIPS is not guaranteed if it appears likely,” adding that “HODL IMO … use trading options or futures or trading spot bags to make short-term profits.”
Immediate reading is clear. Unless XRP holds over $3.1273 and $3.4000 and can hold $3.4000, Guy’s roadmap will complete Wave 4 by winning a retest of the August floor, close to $2.72195. $4.63105, $5.39272 is the fifth booked, extended to late September or early October.
At the time of press, the XRP traded for $2.96.
Featured images created with Dall.e, charts on tradigview.com
