In this video we provide an updated Elliott Wave analysis for XRP to determine the potential trajectory of its current counter trend move. We break down the key support and resistance levels that are essential for navigating this volatile price action and explain how to identify a meaningful structure for the next leg higher. Video by More Crypto Online.
We examine the current wave count and discuss the significance of the $1.04 to $1.11 support zone in maintaining the upward momentum. Viewers will learn how to approach short term rallies within a larger downtrend and why waiting for corrective pullbacks is critical when trading counter trend movements.
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XRP is trading at $1.316 (approximately €1.16), marking a relief rebound of about 1.36% over the past 24 hours. The token has found technical stabilization after facing a sharp September correction that saw it drop from a monthly high of $1.42 down to a crucial support floor near $1.27.
XRP Insights Today
-Regulatory Relief: XRP's rebound is driven largely by market reassessments following a brief period of uncertainty surrounding U.S. market-structure legislation. Institutional sentiment quickly recovered as legal commentaries confirmed that XRP’s core regulatory classification remains perfectly intact under existing judicial precedents.
-Institutional Flow Cool-off: Despite the technical bounce, broader institutional momentum has slowed slightly. Recent reports indicate that weekly XRP ETF inflows dropped significantly from $110 million down to $19 million as traders adopted a more cautious approach following the Federal Reserve's recent monetary updates.
-Derivatives Clearing: Order books look healthier today after derivatives exchanges reported a major clearing of excess leverage and short-position liquidations. This healthier leverage state has allowed organic spot market accumulation to take the wheel in dictating the daily price action.
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