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XRP Falls Back to $0.50 as Breakout Momentum Fizzles Out

Published
Nikola Lazic
Published
By Nikola Lazic
Edited by Ryan James

Key Takeaways

  • XRP rose from $0.38 to $0.66 in July.
  • The current symmetrical triangle suggests a possible breakout or rejection.
  • The price may retest $0.44 before confirming the bullish phase.

XRP has shown notable price fluctuations in recent months, rising significantly before entering a corrective phase.

This analysis explores XRP’s current price trends and potential future movements, highlighting key patterns and indicators that could influence its trajectory.

XRP Price Analysis

XRP saw a notable increase, climbing from $0.38 on July 5 to $0.66 by July 31.

Since then, it has formed a symmetrical triangle pattern characterized by lower highs and higher lows.

This triangle suggests a corrective phase with two potential outcomes: a breakout above the resistance level or a rejection.

If the correction concluded at the September 6 low of $0.50, a new impulse wave could develop, leading to a breakout above the descending resistance.

XRP technical analysis
XRPUSD Still undecisive | Credit: Nikola Lazic/TradingView 

This triangle suggests a corrective phase with two potential outcomes: a breakout above the resistance level or a rejection. If the correction concluded at the September 6 low of $0.50, a new impulse wave could develop, leading to a breakout above the descending resistance.

Conversely, if the correction persists, another higher low may form, completing an ABCDE pattern before a potential upward move targeting $0.80. A stronger bullish trend could propel the price toward the $1 mark.

On September 29, XRP attempted to break out, spiking to $0.66 before quickly retreating to $0.58 at the descending resistance.

There was a chance it might bounce and continue its upward trajectory, but the prior resistance didn’t serve as support. 

On Oct. 3, the price reverted to $0.50, the level at which the breakout attempt was made, questioning the bullish outlook. 

XRP Price Prediction

The hourly chart shows that a bounce is likely, but another downfall should be expected afterward. From July 5 to 17, we saw an impulsive move to the upside, reaching $0.64 at its peak.

A sharp decline to $0.43 followed, but XRP immediately shot back up. 

This movement could be the first ABC correction as the first sub-wave from the higher degree WXY count.

As the recent breakout attempt failed, we can count it as the second ABC, which indicates that a third could be seen. 

XRP short term prediction
XRPUSD bounce expected | Credit: Nikola Lazic/TradingView 

The Oct. 6 low was the end of the A wave, so we expect a B wave to recover the price to $0.60 before bringing it down to the $0.44 area for its final move.

As a corrective structure, XRP could confirm a starting bull phase upon completion, but first, we need to see how the price action develops in the following period. 

Read more: XRP Price Prediction 2025: Can XRP Hit $1.50 After SEC Case Conclusion and ETF Filing?
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.
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Nikola Lazic

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. Expertise: Cryptocurrencies, Technical analysis, Elliott Wave Theory, On-chain metrics, Research reports.
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