The daily chart for XRP highlights a significant breakout from its multi-year downtrend, with the price surging explosively past key resistance levels.
This rally was catalyzed by a strong technical breakout above $0.50, pushing XRP to a high of $2.75, a level not seen since its previous major bull cycle.
XRPUSD spiked parabolically to nearly $3 | Credit: Nikola Lazic/TradingView
The Relative Strength Index (RSI) has reached overbought territory, suggesting the current bullish momentum may face temporary exhaustion.
Nonetheless, XRP’s ability to maintain levels above its prior resistance zones will determine whether the rally continues or consolidates.
Key Observations
Massive Breakout: XRP has broken above its multi-year descending resistance, confirming a major trend reversal.
Overbought RSI: Elevated RSI levels indicate potential for short-term consolidation or retracement.
Key Levels in Play: Support at $1.63 and $1.27 will determine whether the uptrend sustains.
XRP Price Prediction
The 1-hour chart for XRP reflects a consolidation phase following the completion of a five-wave impulsive structure.
After reaching a high of $2.90, the price has started forming a descending wedge, indicating potential for a corrective wave before a possible continuation of the broader trend.
XRP in a descending triangle | Credit: Nikola Lazic/TradingView
This corrective movement suggests that XRP may experience a pullback toward key support levels, but a breakout from the wedge could signal renewed bullish momentum.
XRP’s movement within the wedge will determine the next direction. A break below $2.20 could lead to a more pronounced correction, while a breakout above $2.90 would confirm renewed bullish strength toward the $3.10-$3.50 range.
Key Levels to Watch
Support Levels:
$2.20 (0.236 Fibonacci): Immediate support level within the corrective phase.
$1.98 (0.382 Fibonacci): A critical support zone for deeper retracement.
$1.70 (0.5 Fibonacci): Key structural support in the event of an extended pullback.
Resistance Levels:
$2.90: Key resistance level marking the recent wave (v) high.
$3.10: Potential breakout target if bullish momentum resumes.
$3.50: Extended resistance in the event of a strong upward breakout.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Nikola Lazic is a cryptocurrency analyst and investor working in the industry since 2017. He holds a bachelor's degree in Sociology, which enables him to better understand the psychology behind the crowd´s positioning. Consequently his preferred analytical tool is Elliott Wave Theory in combination with price action analysis.
Combining his experience in trading and investing with knowledge in content writing he strives to bring the most accurate and actionable information.
