XRP is approaching a decisive breakout point near $1.37, according to recent Elliott Wave analysis. The prominent technical setup shown on the two-week chart highlights mounting tension, with analysts predicting a notable price move by the end of May.
Key support and resistance range
XRP has established firm support between $1.31 and $1.36, with $1.47 marked as its principal resistance. After a sharp correction, the token’s price has rebounded but remains subdued. Since peaking at approximately $3.50 at the start of 2025, the charts have shown a period of compression and indecision.
Elliott Wave analysts contend that the core price formation has remained intact. Experts observe XRP trading in a tight band, suggesting this recent compression could signal an impending strong move. The convergence of support and resistance points leaves little room for the price to remain stagnant for much longer.
Based on current data visible on CryptoAppsy terminals, XRP is hovering around the $1.37 level.
Over the past two weeks, the main Elliott Wave structure for XRP has stayed in place. The price is nearing the apex of a narrowing support-resistance triangle. The analyst expects a significant surge by late May, pointing to the $1.36–$1.31 band as a vital support zone. Possible resistance levels are set at $1.47, $1.88, and $3.56.
The Elliott Wave method studies price movements in market cycles to anticipate potential trends. While it does not provide absolute directional signals on its own, it serves as a tool for investors seeking to identify critical price areas.
Price action and critical levels
On the daily chart, the XRP/USD pair remains close to $1.37, a distance below last year’s high of $3.50. Following a robust bull run that began in late 2024, the token’s price oscillated widely between $2.00 and $3.50. Since then, XRP has slipped back to trade between $1.20 and $1.50, where it continues to fluctuate.
The continued sideways action in the $1.30–$1.50 region indicates that buyers are trying to cement support at these levels. According to experts, multiple daily closes below $1.30 could weaken the current structure, while a drop beneath $1.20 would likely shift focus to the broader $1.00 support range.
Potential for rebound at resistance and indicator signals
In the short term, the immediate resistance area sits between $1.47 and $1.50. XRP has repeatedly struggled to surpass this range following recent declines. Should it push through $1.50, the next resistance lies at $1.75–$1.88, a zone that has frequently acted as a pivot in the past. The long-term target among analysts is the $3.56 peak hit in 2025.
Momentum indicators continue to provide mixed signals. While the MACD remains subdued, an RSI reading of about 43.7 suggests a full recovery is not yet underway. Sustained RSI levels above 50 could imply growing demand, and moving past 60 would signal much stronger momentum.
Any near-term breakout for XRP will likely hinge on holding above its key support level and overcoming resistance.
Glossary: Elliott Wave analysis is a technical approach that proposes market prices move in recurring wave patterns. Investors use it to identify market cycles and forecast potential price targets, although it does not guarantee future direction on its own.
