XRP Chart Mirrors Gold Right Before Its Parabolic Run

Crypto analyst Osemka is comparing XRP's current consolidation pattern to gold's pre-breakout phase. He argues that XRP is in a reaccumulation range, not a topping pattern, using Elliott Wave theory. The structure exhibits an A-B-C move with a final "Spring" in the C leg, characterized by a sharp liquidation wick. This move is seen as clearing out late buyers before a potential upward markup. XRP's price is currently capped by resistance near $3.40-$3.66, with a lower boundary defended around $1.62. Osemka labels internal subdivisions within this range, suggesting corrective chop. He draws parallels to gold's weekly chart during a similar sideways phase. Gold also experienced an A-B-C structure with a "Spring" that undercut its support before reversing. Following this, gold experienced a parabolic run to new all-time highs. Osemka suggests XRP is in a similar crucial position as gold was before its massive surge. He believes the current range represents a long reaccumulation after a November surge. The analyst concludes that this pattern is typical for a shakeout before a significant upward move.