- XRP holds above $2.3951, a crucial Fibonacci level, signaling strong bullish momentum toward higher price targets.
- Fibonacci extensions suggest XRP could reach $5-$8 and possibly $77.7 if momentum sustains, with three-digit targets in Wave 5.
- Market volume and Elliott Wave patterns indicate bullish sentiment, with key resistance at $2.4020 and $3.3999 shaping XRP’s trajectory.
XRP continues to gain traction as it holds above the median level of $2.3951. According to Dark Defender, this threshold has remained significant since November. Maintaining this level is essential for further bullish momentum. Analysts argue that using exponential techniques is necessary to overcome the psychological $10 barrier.
By extending Wave 3’s length, XRP could surge beyond $5-$8 levels, potentially reaching $77.7 in this bull run. If momentum sustains, Wave 5 projections indicate three-digit price levels. Historical patterns and technical indicators reinforce this bullish outlook.
Fibonacci Extensions Support Higher Price Targets
The monthly analysis of XRP’s price movement follows a five-wave Elliott Wave structure. The third wave is currently showing a strong upward trajectory. The first wave demonstrated a substantial increase, while the second wave corrected the trend before resuming its rise.
Fibonacci extensions highlight potential price targets. The 161.8% extension coincides with the $2.3951 resistance level, confirming its importance. The 261.8% extension projects XRP toward the $5.8563 and $7.4547 resistance zones. The 361.8% extension indicates long-term targets between $18.2275 and $23.2025. These levels suggest bullish potential if momentum remains strong.
Market Volume and Key Resistance Levels
Volume analysis highlights substantial trading activity around $2.4020 and $3.3999. These price zones indicate strong market interest and accumulation. Conversely, lower volume areas may trigger rapid price movements as they lack substantial resistance.
Price movement is influenced by the median level. In the past, XRP has gathered around this level prior to seeing increases. This level will continue to support positive sentiment as long as XRP stays above it.
Elliott Wave and Market Sentiment
Between the third and fourth waves of the Elliott Wave pattern, there is a correction phase. The technical support for this phase is strengthened by its alignment with the 161.8% Fibonacci retracement. XRP is probably going to aim for the 361.8% Fibonacci level after the pullback is finished. Candlestick patterns indicate strong bullish momentum, with large green candles confirming an uptrend. A minor retracement has occurred, likely due to short-term profit-taking. However, overall market sentiment remains optimistic.
