- XRP eyes reversal after holding firm above $1.79, forming a strong support base.
- The inverted head-and-shoulders pattern may push XRP above the $2.57 resistance.
- Wave (5) projection sees XRP targeting $8.65 if $1.88 support holds steady.
XRP shows signs of a technical turnaround after months of corrective movement within established Fibonacci zones. Analysts closely watch support and resistance levels as price action nears a potential bullish shift.
Key Levels Define XRP’s Short-Term Range
A recent breakdown below local range lows introduced a new area of focus for traders. According to CryptoBULL, which has analyzed the current XRP time frame, the market pierced prior lows after over a month of consolidation. He has provided additional insights into how XRP price may now form a base just above its demand zone, marked in green.
Source: CrediBULL
He identified the mini-range between $2.17 and $2.57 as a key zone for price consolidation. XRP has bounced twice from $1.79, confirming this level as solid support within the broader retracement structure. CryptoBULL noted the $1.70 to $1.79 range offers the best risk-to-reward ratio for long positions.
The analyst also pointed out an inverted head-and-shoulders pattern forming, suggesting a possible reversal. If XRP holds above $2.17, a push toward $2.57 could occur. His projection extends to $2.99 as the next resistance before XRP retests its $3.80 all-time high. He emphasized that volume analysis shows that increased buying activity supported prior rallies.
Elliott Wave Signals from Longer Timeframes
Dark Defender has presented a comparative analysis using a broader Elliott Wave framework and Fibonacci targets. His chart outlines the completion of wave (4) and potential initiation of wave (5) within a symmetrical wedge. The current movement suggests a long-term bullish setup aligned with historic wave behavior.
Source: Dark Defender
He highlighted $1.88 as a critical support level, near the 161.8% Fibonacci extension. The wedge formation indicates ongoing consolidation as price tests convergence between structure and Fibonacci levels. According to him, wave (5) may reach $8.65 if the breakout above the wedge confirms the cycle continuation.
Historical reactions at $3.80 reinforce its importance as a resistance. Dark Defender noted that the price remains above a key bullish trendline drawn from wave (2), maintaining structural integrity. If the pattern holds, XRP could be preparing for its next impulsive move.
