- XRP consolidates above $2.22, with Fibonacci retracements and Ichimoku support suggesting a controlled bullish setup.
- Heatmap data shows tight liquidity zones aligning with Elliott Wave targets, reinforcing $2.22 as a key bounce level.
- RSI stability and structural alignment signal momentum for a potential breakout above $2.60 if $2.20 support holds.
XRP price action remains technically engaged between bullish Fibonacci retracement clusters and liquidation resistance zones near $2.60. Overlapping Elliott Wave progressions and Ichimoku cloud dynamics signal the market’s critical positioning ahead of a possible breakout.
Fibonacci Precision Meets Market Structure
XRP’s consolidation phase from June 8 to June 12 displays powerful alignment between Elliott impulse waves and retracement zones. Wave (1) to Wave (3) developed a defined arc, reaching a preliminary peak before pulling back into Wave (4). That pullback formed a classic falling wedge right within the Ichimoku support band, a historically reliable bounce region.
Assessing XRP’s movement, price action respected the 61.80% retracement at $2.1958 before pivoting. As the XRP price pushed higher, the 70.20% fib level at $2.2895 and the 50% mark at $2.3341 emerged as the next resistance objectives. XRP tagged $2.222 repeatedly, a level circled in green and reinforced by fib extensions and psychological support symmetry.
Source: (X)
As the XRP price climbed, the momentum flattened. RSI curled near its average baseline, signaling temporary exhaustion but not reversal. A five-wave completion pattern peaked near a visible resistance ceiling, triggering a textbook A-B-C correction with a defined bounce zone.
The asset’s curvature mirrored a rounding bottom, dubbed the “Coffee Cup Line,” offering a visual confirmation of structural continuation. Prices frequently interacted with the 85.40%, 61.80%, and 38.20% Fibonacci retracement levels. These intersections narrowed the volatility band and tightened the structure into a squeeze setup.
Heatmap Liquidity Collides with Wave Targets
The liquidation heatmap adds further technical depth to the current XRP setup. From March 14 to June 8, dense liquidity bands formed between $2.00 and $2.60. These regions, shown in high-frequency purple and green overlays, correspond with current Elliott retracement levels.
Source: (X)
XRP faced sharp rejection near $2.72 on May 22, defining a ceiling shaped by leverage liquidations. Price dropped and later tested $2.40 repeatedly without a clean breakout, highlighting resistance formed by trapped long positions. Below $2.30, heatmap compression zones signal strong bid clusters from earlier stop-hunt reversals.
As XRP price revisited $2.222, liquidation data aligned precisely with projected Wave (C) targets, reinforcing that zone as a calculated bounce point. RSI shifted upward from oversold conditions, confirming localized momentum support.
The XRP price structure remains bullish as long as the $2.20 base holds under Ichimoku support. Wave structure, fib precision, RSI behavior, and liquidity patterns converge into a tight technical rhythm for XRP. All evidence signals controlled consolidation, not weakness.
