- XRP holds strong above $1.88 support as Elliott Wave structure and RSI oversold signals hint at a potential short-term price reversal.
- Fibonacci support near $2.07 and a completed corrective Wave C make XRP’s current zone a critical inflection point for traders.
- Ripple Mining’s cloud contracts let XRP holders earn passive daily income without hardware, boosting yield in volatile markets.
XRP continues to hold steady above the $1.88 support zone as outlined by analysts earlier this week. The token’s Elliott Wave structure indicates that the long-term bullish trend will continue. Because of market volatility and technical structure, XRP is currently at a pivotal moment. Fibonacci support levels, particularly close to $2.07, have assisted in stabilizing the stock despite temporary negative pressure. Traders remain cautious, yet the chart reflects potential for short-term correction followed by upward reversal.
Source: Dark Defender
Additionally, the weekly XRP chart highlights an ongoing descending resistance line, tested multiple times since October 2024. This resistance near the $0.75 level rejected bullish attempts, triggering a complex corrective wave structure. The Elliott Wave formation labeled as the “Dark” pattern shows Wave A initiating the decline, followed by Wave B’s weak recovery. Wave C completed near $2.08, precisely where key Fibonacci support levels converge.
Moreover, the RSI signal indicates oversold conditions, reflecting recent downward pressure. Besides that, short-term volatility is heightened, making risk management crucial at current levels. Flash crash warnings still hover, especially if XRP breaks below its current support range. However, multiple support trendlines offer structure and containment to downside moves.
Cloud Mining Presents a New Passive Yield Strategy
While XRP’s price navigates volatility, Ripple Mining introduces a novel passive income solution for XRP holders. The platform allows users to enter cloud mining contracts using XRP, BTC, ETH, DOGE, or USDT. These contracts remove the need for hardware investments, allowing coin holders to earn yield from computing power leasing.
Furthermore, the service provides flexible durations ranging from 7 to 60 days. Hence, users can align strategies based on risk appetite. Additionally, daily payouts offer stable returns, converting static crypto into cash-generating assets. Security remains paramount, with decentralized custody and encrypted infrastructure ensuring user protection.
