Ripple (XRP) Struggles at Key Level — Next Move Could Be Crucial

Key Takeaways

• Symmetrical triangle consolidation suggests a potential breakout ahead.
• Fibonacci retracement at 0.236 ($2.468) is a key support level.
• Wave (iii) extension target aligns above $3.50 if momentum holds.

XRP has been trading within a symmetrical triangle formation on the 4-hour chart, suggesting a consolidation phase following a previous impulsive rally.

The 1-hour chart indicates that price action is currently undergoing a corrective wave within a broader bullish structure.

Fibonacci levels and Elliott Wave analysis provide key insights into potential breakout scenarios and retracement levels.

XRP Price Analysis

On the 4-hour chart, XRP has formed a symmetrical triangle after a significant five-wave impulsive rally that peaked near $3.40 on Jan 16.

This suggests a consolidation phase where price action contracts within a tightening range.

The triangle is anchored by a descending resistance line from the prior high and a rising support trendline from the January lows.

Wave counts indicate a corrective W-X-Y structure following the peak, with the price currently testing the lower boundary of the triangle.

A decisive breakout in either direction could set the stage for the next major move.

The horizontal level at $2.468 acts as an immediate pivot point, while surpassing $2.80 would provide a bullish confirmation.

The Relative Strength Index (RSI) remains neutral but slightly leaning towards oversold conditions, indicating that selling pressure has weakened.

A bounce from current levels could suggest renewed bullish momentum, especially if XRP reclaims the $2.75 level. A retest of the critical $1.95 support zone is likely if the price breaks down from the triangle.

XRP Price Prediction

The 1-hour chart provides a more granular view of XRP’s corrective structure within the triangle.

Price action has recently tested the lower boundary near $2.50, coinciding with the 0.236 Fibonacci retracement level.

This suggests that XRP may form a wave (ii) retracement before a potential push higher in wave (iii).

A bullish scenario would see the price hold above the 0.236 retracement level and begin an impulsive move toward the $2.75-$2.90 resistance zone.

A confirmed breakout from the triangle could target Fibonacci extensions at $3.05 (1.0 extension) and $3.52 (1.618 extension). Wave (v) could extend toward $3.86 if momentum is strong.

Conversely, a breakdown below $2.50 would indicate a deeper corrective move, likely testing the $2.29 support (0 Fibonacci retracement) or even the key $1.95 region.

The RSI on the 1-hour chart is hovering near oversold territory, suggesting that a reversal may be imminent if buyers step in.

XRP must break above $2.75 with increasing volume for a bullish continuation.

Failure to do so could result in prolonged sideways movement or a deeper retracement toward the lower Fibonacci levels.

Key Levels to Watch

• Immediate Resistance: $2.75 (upper triangle boundary).
• Key Resistance: $3.05 (1.0 Fibonacci extension).
• Major Resistance: $3.52 (1.618 Fibonacci extension, potential wave (iii) target).
• Immediate Support: $2.50 (0.236 Fibonacci retracement).
• Key Support: $2.29 (0 Fibonacci retracement).
• Critical Support: $1.95 (long-term horizontal support).
• Short-Term Target for Wave (v): Above $3.86 if bullish momentum sustains.
• Invalidation Zone: Below $1.95, signaling further downside risk.

XRP is at a decisive point, with the symmetrical triangle dictating the next major move. If the pattern holds, a breakout above resistance levels could drive prices toward $3.50 and beyond.

However, a breakdown would lead to deeper corrections toward the $2.30-$1.95 zone.

Traders should watch for confirmation signals, particularly volume and RSI movements, to gauge the next significant trend.