Ripple hit 50 cent today in a bullish recovery mood. Will the rally continue? The following 3-4 July Ripple price prediction gives clues based on Elliott wave theory.
Ripple is at the verge of a bullish recovery after bouncing from a dip close to 40 cents last month. This month started bullish for the Cryptos. Will the bullish move be sustained throughout the month as seen in April? It’s not very clear enough that the Cryptos have made the final bottom to end the long term bearish correction. We will see how that turns out in the coming weeks. But, right now, we will focus on the bullish move and check if it’s one of those corrective rallies or the start of a total bullish recovery. Just like we followed the bearish move and called for a 40-42 cents bottom, we will do the same this month. In today’s update, we will use Elliott wave theory to analyze the current rallies. Before that, let’s review the last update where the chart below was used.
The wave count extended to 0.44 to complete the 5th wave of the impulsive leg.If price rallies back to $0.5, we should see the bullish correction continue to $0.6. The rally, if corrective, could mean that price would see lower prices than $0.4 afterwards. If the rally is impulsive and extends above $0.7, we might see a total recovery and price going back above $1. The Crypto market might recover totally in the second half of the year just like how prices dropped in the first half of last year and rallied massively in the second half.
3-4 July Ripple price prediction: what next?
Price took lower price at $0.42 and rallied strongly above $0.5. The current move is expected to hit $0.6 at least in an impulsive drive. If price turns corrective instead and stays below $0.57, we might see price dropping further below $0.42. If the drop that follows the end of wave a is corrective, we would be looking at higher price to $1. That’s still some time away. We will wait and see what happens next. Stay tuned for the next update.
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