Ripple’s (XRP) recent price decline has aligned with expectations, falling by nearly 4% yesterday. In today’s video, Nick delves into the short, medium, and long-term perspectives on XRP’s price action post-market crash.

Starting with the small timeframe analysis, XRP/USDT on the 1-hour Binance chart has experienced a deeper drop than anticipated. The rejection at the 50 SMA and 200 EMA raises concerns for XRP’s price action.

A potential WXY wave pattern could lead to further downside before an upward move. However, Nick anticipates a new support range for XRP between 54.59 and 55.9, which could provide a solid foundation for a potential uptrend.

For those interested in leveraging their trades, platforms like Bitget and Blofin are recommended. However, caution is advised when considering short positions. Instead, focus on potential long setups around the support levels.

On the 1-hour timeframe, the Stochastic RSI is approaching the overbought zone, suggesting a possible downside.

Shifting to the daily timeframe, a golden cross is anticipated, which could lead to a breakout around 75-85 cents.

Our long-term strategy involves holding XRP positions with a stop-loss strategy set below recent lows.

Join the conversation! We encourage our community to share their thoughts, insights, and questions in the comments below or on our Discord channel. Let’s discuss the future of Ripple together.