Technical analysis by SeoVereign about Symbol XRP: Sell recommendation (5/1/2025)

***Follow SEOVEREIGN to receive alerts.**Boosts motivate SEOVEREIGN to analyze more assets.**Our team regularly publishes analysis reports on the cryptocurrency market.🪙 Asset Overview – Ripple (XRP)🎯 Target 1: 2.21🎯 Target 2: 2.18While XRP still holds strong long-term bullish potential,our current wave count suggests that the 5th wave has completed (confirmed),indicating a possible entry into a corrective downward phase.📉 Supporting this view:The length of the 5th wave is structurally similar to that of the 1st wave,which technically suggests that XRP may now be entering a retracement zone.For futures traders, this could be a good opportunity to consider short-position strategies in anticipation of a short-term decline.1tp hitALL TP HIT!![Explanation]The bounce seems to have started at 2.12 USDT. It makes sense to start counting from here.If we apply Fibonacci extension to Wave 1, we can see that Wave 3 touches the 1.272 level—not perfectly, but close enough. So it's reasonable to consider this the end of Wave 3.That would naturally make the following corrective move Wave 4.The shape is clean and typical, so there’s no major issue accepting it as such.Now we need to identify where Wave 5 ends.This part is a bit tricky, so I’ll refer to the possible candidates as X and Y.There are quite a few Fibonacci extension levels for determining the end of Wave 5,so instead of going through all of them, I’ll just show you the most likely answer.It aligns with the 1:1 extension of Wave 1, so we can assume that X marks the end of Wave 5.After that, the following waves can be counted as shown below.The structure of Waves 3 and 5 also holds up well, so this count looks valid.That wraps up this explanation.Thanks for reading.