Ripple’s XRP has been showing both signals of weakness and strength from a technical analysis (TA) perspective, while still facing threats and opportunities related to the investment environment. All these must be considered in order to make a personal decision on whether it is time to buy XRP or not.
Interestingly, CoinsKid, a well-known cryptocurrency trading analysis account on X (Twitter), seems to believe a new window of opportunity is opening for XRP investors from a technical analysis point of view.
In a recent post made on October 19, CoinsKid said they were able to “make a lot of money” in 2023, expecting to “make a lot more money in 2024” as well if their “theory is correct”.
XRP buy analysis: Elliot Waves and Fibonacci
On that, the account shared an XRP price chart with five upward waves year-to-date (YTD), accurately aligned to Fibonacci lines. Following the YTD bull run, Ripple’s token is now experiencing a retracement at a key point for Fibonacci (0.618) a
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