XRPUSDT Analysis by @pipsnipers

The presenter analyzes XRP using Elliott Wave Theory, identifying a triple zigzag correction and projecting potential future movements. Key Fibonacci retracement levels are noted with 0.786 at 1.83 and 0.886 at 1.73. The video discusses potential scenarios, including an initial move off the 70.2% fib level followed by a drop to the 0.786 and 0.886 levels before a rally. To invalidate the downtrend and confirm a bullish move, the price needs to sustain above 2.20. He emphasizes the market's disregard for emotions and prepares for potential analysis changes due to market dynamics. The video also identifies the 21 and 50 period moving averages on the 4H at 2.11 and 2.15 respectively, adding the daily close has to be above 2.21 to invalidate the bearish thesis.