Rising Wedge Breakdowns: XRP/BTC Set for a Major Plunge
The XRP/BTC pair shows strong bearish potential due to a rising wedge pattern. A break below the "Area of Confirmation" signals a steep decline ahead.
The rising wedge pattern indicates bearish momentum. Breaking the "Area of Confirmation" confirms the potential for further decline.
Critical targets: Fib 1.272, Fib 1.414, and Fib 1.618, with 0.00002700 BTC as historical support aligning with these levels.
A sharp decline is expected in the coming weeks, with wave 3 completion potentially leading to a corrective wave 4 before wave 5.
XRP/BTC's major decline could hit outlined levels. Traders must prioritize risk management and monitor closely for confirmations.
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