The post XRP Price Analysis: Breakout or Breakdown Ahead? appeared first on Coinpedia Fintech News
The price of XRP has been moving sideways without any clear direction for the past few days, and today’s analysis focuses on the shorter time frame since the bigger picture hasn’t changed much. At the time of writing, XRP is trading at $2.18 and is up by more than 1%.
According to analysts, XRP has made a small move to the upside, but it’s not yet strong enough to confirm a solid uptrend. The recent increase looks like a three-wave pattern, which could either be the start of something bigger or just another temporary bounce.
Here’s what’s happening:
- The B-wave correction might not be over yet. Today, we saw some downward movement, and it’s possible that XRP could revisit last week’s lows around $2.02–$2.03.
- If this happens, the price might see a five-wave decline forming, with possible support around $1.90–$2. But it’s important to understand this is a very short-term, small market structure and nothing major for now.
On the other hand, if XRP has already completed its B-wave correction and started a new C-wave upwards, it could target the $2.55–$2.68 zone. However, there’s not much clear evidence to confirm this yet — both the recent moves up and down have been choppy, making it difficult to predict the next big move.
Since mid-April, XRP’s price action has been messy and directionless, mostly moving sideways. While there’s still a chance for higher prices, traders should watch for key support levels:
- $1.82 is an important support area. As long as XRP stays above this, there’s room for a recovery.
- If XRP falls below $1.82, it would signal that the current attempt to move higher is failing, and it might see a drop towards the $1.33 level next.
