Hello There,

welcome to my new analysis of XRP from a weekly timeframe perspective. In the current cryptocurrency market, there are still coins that have long-term potential despite smart money influence on bear-market prices. In recent times, I spotted the underlying gems with strong potential to expand bullishly in the upcoming times. One of them is XRP this coin is forming an underlying pattern with huge potential.

When looking at my chart, we can see how XRP trades within this gigantic long-term ascending trend channel. In this channel, XRP already completed several bullish expansions towards the upside. The origin of those expansions was always the descending wedges in which XRP completed the ABC wave counts and bounced within the lower boundary. In the previous bullish expansions XRP made at least 10X completing these patterns.

Right now, XRP is forming a very similar pattern. This pattern is likely to form the origin of the bullish expansion when it completes correctly, once again. At the moment, XRP is still trading in a downtrend. However, it has the potential to complete the wave count and bounce in the lower boundary once again. When this happens, and the descending wedge completes as seen in my chart, the potential for the next bullish expansion wave increases tremendously.

As has been seen in past bullish wave expansions, the target of the descending wedge was always the upper boundary. This will also be the case in the upcoming bullish wave expansion when the pattern completes. Fundamental factors also support the bullish wave in the long-term. XRP can continue business in the EU and expand its digital asset management. It continues strategic acquisitions and on-chain expansion.

In the upcoming times, it will be highly important to watch how XRP approaches the support levels within the wedge formation and how the conditions are when it approaches the lower boundary. If the bounce in this area happens and XRP manages to break out, the next wave will likely be loaded, completing the historical pattern anew.

In this manner, thank you a lot for watching!
The support is highly appreciated.

VP