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XRP continues to attract attention by holding above a significant support level between 1.21 and 1.55 dollars. According to technical analysis, this range is crucial for maintaining an upward trend. Market experts believe that if XRP remains above this zone, a strong upward movement is likely to occur.
Critical Thresholds for XRP Coin
Market observers suggest that the recent pullback in XRP’s price is part of a corrective movement. Specifically, it is thought to correspond to the “fourth wave” according to Elliott Wave Theory. If this formation is completed, XRP is expected to transition to the fifth wave, potentially driving the price up to 5.65 dollars or even 6.60 dollars.
For XRP to sustain this bullish outlook, it is essential that the price does not drop below the 1.21 dollar mark. A loss of this level could raise the likelihood of a deeper decline. Analysts indicate that in such a scenario, the price could retest the 0.88 to 0.61 dollar range. However, it is emphasized that the prevailing market structure and investor sentiment do not support such a drastic correction. Long-term investors still have hope, and the coming days will be crucial for regaining momentum.
“Recent Consolidation” Comments Gain Momentum
Crypto analyst Dark Defender argues that the current horizontal movement of XRP represents a “Recent Consolidation.” He suggests that the structures forming on the monthly timeframe indicate that a breakout is imminent. He specifically noted that if resistance levels at 2.22 and 2.30 dollars are surpassed, the upward movement could accelerate.
$2-XRP-Altcoin.png” alt=”” width=”900″ height=”507″ />Dark Defender believes that if the price breaks through these resistance thresholds, it could first climb to 3.75 dollars, and subsequently to 5.85 dollars. These levels have been long-anticipated targets for traders.
Currently, XRP is trapped within a narrow price range. However, the technical signals on the charts and market psychology suggest that a new surge could be on the horizon.
