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XRP’s price continues to move within a correction phase, showing signs of consolidation. While there’s some short-term uncertainty, the overall market sentiment remains bullish, suggesting that XRP could be gearing up for a bullish rally if key levels hold. XRP has erased the gains made in the last seven days and is currently down by more than four percent on the weekly chart. At the time of writing, XRP is trading at $3.17 and is aiming to rise above the $3.20 levels.
Price Targets and Bullish Outlook
XRP is currently moving through a complex correction, but long-term bullish expectations remain in place. If XRP can break above the critical level of $3.40, it could target $4.20 next, with $5 and $6.60 also in play as potential future price levels. These targets align with key Fibonacci extensions and are seen as crucial milestones in the coming weeks.
The immediate focus will be on the breakout above $3.40, which would signal further upside potential for the token.
Support Levels and Potential Pullbacks
In the short-term, XRP faces important support levels. The $2.52 to $2.94 range is critical for the price to stay above in order to maintain bullish expectations. If the price dips below $2.52, the chances for further upward momentum may diminish. A break below $2.32 would weaken the bullish case, signaling a possible larger correction.
What to Watch for in the Coming Days
The key levels to focus on are the $2.52 and $3.40 ranges. A sustained movement above $3.40 could confirm the start of a bullish rally, pushing XRP toward $4.20 and eventually higher targets. On the flip side, if XRP struggles to hold above the critical support levels, further consolidation or a short-term pullback could occur.
