Ripple (XRPUSD) has made a nice rebound and is now pulling back toward several important moving averages, including the 50-day, 100-day, and 200-day SMAs. This area could act as strong support and provide a base for a larger recovery. From an Elliott Wave perspective, the current move could be part of wave B correction before a continuation higher in wave C of a minimum three-wave ABC rally. If the moving averages hold and XRP starts to stabilize, we could see another leg higher as the recovery develops.

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