Key Insights:
- XRP trades near $1.90, repeating a past pattern that sparked a 69% rally toward new highs.
- $2 remains a key resistance; a yearly close above it could unlock a multi-year price surge.
- Elliott Wave and Fibonacci analysis point to possible $27+ targets if breakout gains momentum.
XRP was priced at $1.90, showing steady movement with a 2.39% rise in the past 24 hours and a 1.61% gain over the last week. Traders have taken interest in the current chart because it reflects a setup seen before a strong move in 2024.
At that time, XRP dipped below the green Supertrend indicator for several weeks. The drop turned out to be short-lived. Buyers stepped in, and the price climbed 69% before entering a multi-week consolidation. After that, the market pushed higher into a breakout.
The present structure looks nearly the same. XRP has once again slipped under the Supertrend and is holding sideways. Traders are watching the $1.88 to $1.92 zone, as a move back above this area could suggest trend reversal. Some believe that if the setup repeats, XRP may be preparing for another leg up.
$2 Remains a Barrier That XRP Has Yet to Break
The $2 mark has played a major role in XRP’s long-term chart. Since 2017, every major rally has paused or reversed near this level. Price has tested it multiple times but never managed to close above it on a yearly candle.
The current yearly candle shows XRP pressing against this resistance again. The more time it spends under $2 without breaking down, the more attention it draws. A strong close above this area could show that supply pressure has faded.
A breakout above $2 could shift the market outlook. One chart projects a possible 1,769% move from this level, based on historical price expansion and long-term structure. While the move is not confirmed, it gives traders a key area to monitor.
Technical Structure Points Toward Higher Levels
XRP’s broader trend was being mapped using Elliott Wave theory. Based on this model, XRP may be finishing a large corrective move, known as Wave 2. Price has retraced about 88.7%, which matches a typical Wave 2 pattern.
If the next impulse wave begins, called Wave 3, it often brings strong price growth. Fibonacci extensions suggest targets between $5.59 and $7.18 for this wave. Further out, Wave 5 shows price levels reaching $19.31, $22.89, and $28.67. These estimates match previous projections that have called for a $27 long-term target.
Key Areas to Watch in the Coming Weeks
Market focus was centered on two zones. The first is the Supertrend level near $1.90. A solid push above this range could be the first signal of buyer control. The second is the $2 resistance. This level has capped XRP’s growth for years.
Some traders are cautious despite the bullish structure. One user noted,
Source: ChartNerd/XOthers are waiting for price to hold above resistance with strong volume before entering new positions.
At press time, XRP was holding firm above support, trading in a pattern that has led to rallies in the past. The next move will depend on how the market reacts near these key levels.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Source: https://coincu.com/analysis/xrp-set-to-explode-2/
