coinedition.com
XRP’s price movement has long intrigued investors with sudden surges and quick corrections. Crypto analyst Maelius says understanding XRP’s past patterns and market dominance can help you figure out the best time to sell.
With XRP currently priced at $2.44 and a 24-hour trading volume of $4.12 billion, Maelius’ analysis suggests strategic timing is crucial to maximize returns while minimizing risks.
How XRP Price Moves
XRP’s price tends to jump quickly, usually in two big waves with a correction in between. These waves attract a lot of media hype, drawing in retail investors who often buy in late. This usually leads to one final surge followed by a sharp drop, shaking out many retail investors before a final upward move.
For example, in 2017, the third wave (W3) showed two similar jumps, pushing XRP to impressive highs. If the current cycle follows this pattern, Maelius predicts XRP could reach a W3 target of around $10. This target lines up with psychological resistance and past price action.
[When to sell $XRP – thread]
— Maelius (@MaeliusCrypto) January 6, 2025
Recently, I made a post about $XRP.d (https://t.co/xUBuIka9vH), which got astonishing exposure and positive feedback, so really appreciate that. People asked me what are my targets for $XRP, so let's dig deeper into it now, even though you're… pic.twitter.com/NTsRKfSsRx
XRP Dominance: A Key Indicator
XRP dominance (XRP.d) shows how XRP is performing compared to the rest of the crypto market. When XRP.d goes up, XRP is usually doing better than the overall market, meaning investors are interested. Maelius says XRP.d is nearing a key resistance zone, which has historically marked the peak of XRP’s performance.
Read also: XRP Consolidates in Bull Pennant, Could Skyrocket to $11 with Breakout
Notably, if XRP.d reaches its upper resistance, combined with the total cryptocurrency market capitalization achieving a 2.618 Fibonacci level, XRP’s price could climb further. Conservative estimates suggest prices could range from $13 to $26 under favorable conditions. However, the likelihood of XRP sustaining dominance at these levels remains slim, prompting caution among investors.
Knowing When to Sell
Maelius advises that investors should begin selling gradually as XRP approaches the $10 to $13 range. This recommendation is based on the deteriorating risk-to-reward ratio as prices enter parabolic territory.
Plus, the resistance levels in XRP.d are unlikely to be broken, signaling a potential market downturn after this point.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.