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XRP’s price action has been a mix of ups and downs lately, with analysts closely watching important levels to see what happens next. While the market has faced a few pullbacks, the bigger picture still looks hopeful for XRP fans.
Key Resistance Holding XRP Back
Recently, XRP tried to break through a tough resistance zone between $2.55 and $2.62, but once again, the price got rejected. This area has been a problem for XRP for a while now, just like it has for many other altcoins in the market. After this rejection, the price pulled back slightly, but it’s still holding above important support levels.
The Bigger Trend Stays Bullish
Even with these small dips, the overall trend for XRP is still moving up. On the daily chart, XRP continues to form higher highs and higher lows, which is a classic sign of an uptrend. Right now, the price is finding support around $2.30 to $2.34, a zone that was previously a resistance area. As long as XRP stays above this level, the bullish momentum is expected to continue.
If the price falls below $2.30, however, the next important support sits between $2.10 and $2.15. Dropping below this zone could lead to a deeper pullback in the short term.
Short-Term Price Action: Calm Before the Move
XRP is still under the effect of a recent bearish divergence, which caused a small drop followed by sideways price movement. At the moment, it looks like XRP won’t make any big moves right away. Bitcoin, which often leads the crypto market, is still holding strong — and when Bitcoin stays steady, altcoins like XRP usually follow quietly for a while before making their moves.
Many market watchers believe that if Bitcoin continues its upward trend, XRP could start recovering in the coming days.
Elliott Wave Analysis Suggests One More Rally
According to a recent market analysis based on the Elliott Wave theory — a popular tool to predict market cycles — XRP might still be in the middle of its fifth and final wave to the upside. This wave likely started when XRP hit a bottom in July last year.
If this pattern continues, XRP could aim for new highs, with long-term price targets between $4.20, $5.00, or even $5.65 before a bigger market correction begins.
Crucial Support and Resistance Levels to Watch (long term)
For now, XRP remains in a tight range. Key resistance sits just above $3.30, while strong support lies at $1.21. As long as the price stays above $1.21, the bullish outlook stays in place. A drop below this level, however, would weaken the current setup and might force analysts to rethink their predictions.
In the short term, XRP has completed a five-wave pattern, and according to Elliott Wave rules, a three-wave pullback could be next. The expected support for this pullback lies between $2.60 and $1.79. As long as XRP holds above $1.79, the bullish trend remains safe.
