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Two Competing Wave Scenarios Could Define Next Major Move
The post Two Competing Wave Scenarios Could Define Next Major Move appeared on BitcoinEthereumNews.com. Altcoins More Crypto Online (MCO), a popular YouTube channel focused on technical crypto analysis, has shared a comprehensive XRP market update, outlining two primary Elliott Wave scenarios that could shape the digital asset’s medium- and long-term outlook. The analysis, based on a 4-day XRP chart, explores both a bullish continuation and a potential long-term correction. Primary Yellow Scenario: One More High Before a Larger Correction for XRP The main structure tracked by MCO, referred to as the “yellow scenario,” suggests that XRP is completing a five-wave Elliott Wave cycle that began at the 2013 low. In this scenario: Waves 1 through 3 have already completed Wave 4 is forming a triangle Wave 5 is expected to push XRP to a new all-time high (ATH) According to Elliott Wave principles, the completion of a five-wave pattern from a macro low usually signals the start of a substantial correction. In this case, MCO suggests a potential retracement back to the $0.40–$0.50 region—roughly where the prior Wave 4 formed. While some may doubt the plausibility of such a drop, history offers precedent. After peaking near $3.40 in 2017, XRP collapsed to $0.11, underscoring that sharp corrections are part of crypto market cycles. Despite recent downside movement, MCO maintains that the current pullback lacks the strength and structure to confirm a macro top. Therefore, the analyst continues to favor the idea of one final upward push. Alternate White Scenario: Bull Market Began in 2020 The alternative “white scenario” interprets XRP’s current structure differently. Rather than concluding a macro bull cycle, this model assumes that the bull market only began in 2020. The implications are: The current move is part of a larger third wave Two more waves (4 and 5) are still expected to complete the cycle A correction will still follow, but it…
The post Two Competing Wave Scenarios Could Define Next Major Move appeared on BitcoinEthereumNews.com.
Altcoins More Crypto Online (MCO), a popular YouTube channel focused on technical crypto analysis, has shared a comprehensive XRP market update, outlining two primary Elliott Wave scenarios that could shape the digital asset’s medium- and long-term outlook. The analysis, based on a 4-day XRP chart, explores both a bullish continuation and a potential long-term correction. Primary Yellow Scenario: One More High Before a Larger Correction for XRP The main structure tracked by MCO, referred to as the “yellow scenario,” suggests that XRP is completing a five-wave Elliott Wave cycle that began at the 2013 low. In this scenario: Waves 1 through 3 have already completed Wave 4 is forming a triangle Wave 5 is expected to push XRP to a new all-time high (ATH) According to Elliott Wave principles, the completion of a five-wave pattern from a macro low usually signals the start of a substantial correction. In this case, MCO suggests a potential retracement back to the $0.40–$0.50 region—roughly where the prior Wave 4 formed. While some may doubt the plausibility of such a drop, history offers precedent. After peaking near $3.40 in 2017, XRP collapsed to $0.11, underscoring that sharp corrections are part of crypto market cycles. Despite recent downside movement, MCO maintains that the current pullback lacks the strength and structure to confirm a macro top. Therefore, the analyst continues to favor the idea of one final upward push. Alternate White Scenario: Bull Market Began in 2020 The alternative “white scenario” interprets XRP’s current structure differently. Rather than concluding a macro bull cycle, this model assumes that the bull market only began in 2020. The implications are: The current move is part of a larger third wave Two more waves (4 and 5) are still expected to complete the cycle A correction will still follow, but it…
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