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Reading: Watch XRP: Key Levels Set to Spark Action in the Coming Week
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COINTURK NEWS > Ripple (XRP) > Watch XRP: Key Levels Set to Spark Action in the Coming Week
Ripple (XRP)

Watch XRP: Key Levels Set to Spark Action in the Coming Week

In Brief

  • XRP shows horizontal movement with potential for breakout next week.

  • Critical support level at $2.52 could lead to a deeper correction.

  • Traders anticipate increased activity as market dynamics shift on Monday.

Fatih Uçar
Fatih Uçar 4 months ago
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Ripple’s XRP has been moving horizontally without a clear direction over the past week. The popular altcoin is trapped between the $3.08 and $3.14 range, experiencing a decline of over 2% weekly. The completion of a triangle formation on January 13 signals an impending breakout. Analysts emphasize the potential for upward movement in the upcoming weeks based on the Elliott Wave Theory, although the possibility of testing support levels and a correction cannot be overlooked.

Contents
Critical Levels and Possible Scenarios for XRPIncreased Activity Anticipated Next Week

Critical Levels and Possible Scenarios for XRP

The technical chart of XRP indicates that the completion of the triangle formation is interpreted as the beginning of a new trend. Particularly, the $2.52 level stands out as critical support during declines. A definitive close below this level could lead to a deeper correction in prices. Conversely, if an upward breakout occurs, targets of $4.20 and $5 will be closely monitored.

<img class="size-full wp-image-427853" src="https://coin-turk.com/wp-content/uploads/2025/01/Ripple $3-XRP-Fiyat-Analizi-scaled.jpg” alt=”” width=”2560″ height=”1412″ />
Ripple XRP Price Analysis

According to the Elliott Wave Theory, a five-wave upward movement is expected following the completion of the triangle formation. However, for this scenario to materialize, any corrective movements must be constructive. This means that potential pullbacks should progress slowly and gradually, ensuring that the main trend remains bullish.

Increased Activity Anticipated Next Week

The decline in trading volume over the weekends suggests that XRP will continue to fluctuate around its current levels. Traders are poised to determine a clear direction on Monday as market activity rises.

Specifically, if the $3.14 resistance is surpassed, buyers or bulls are expected to take control. However, if sellers or bears dominate below $3.08, it could signal a short-term decline.

Technical indicators suggest that XRP’s recent consolidation is preparing for a volatility explosion. The Relative Strength Index (RSI) remains neutral while moving averages are positioned close to the price, reflecting a balanced market psychology before any breakout.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 26 January, 2025 - 3:05 pm 26 January, 2025 - 3:05 pm
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