Key Takeaways
- Bullish breakout confirmed as XRP surpasses descending resistance.
- Fibonacci extensions hint at targets above $3**, with potential to reach **$4 in an impulsive wave.
- Momentum is building, but $2.45 support must hold to avoid re-entry into consolidation.
XRP Price Analysis
4-Hour Chart Overview
XRP’s price action since its December peak ($2.90) reveals an Elliott Wave corrective pattern, potentially concluding as a WXY structure. Recent movements include:
- Higher high at $3.40 (mid-January).
- Lower low at $1.77** (February 3), followed by a 26% wick and recovery to **$2.25.
The break above descending resistance suggests a new bullish cycle, but confirmation requires sustained trading above the breakout zone.
🔹 RSI Indicator: Recovering from oversold, now nearing neutral (60+ breakout could signal further upside).
🔹 Fibonacci Levels:
- Support: $2.45 (0.236 Fib).
- Resistance: $2.90 (0.786 Fib), $3.08 (1.0 Fib).
👉 XRP’s critical resistance levels
1-Hour Chart & Price Prediction
XRP shows early signs of an impulsive wave after breaking a symmetrical triangle (bullish continuation pattern).
Projected Targets:
- Wave (iii): $3.59 (1.618 Fib extension).
- Wave (v): $4 (final impulse).
Key Challenges:
- Immediate resistance at $2.77 (0.618 Fib retracement).
- Failure to hold $2.45 risks invalidating the breakout.
Key Levels to Watch
| Type | Level | Importance |
|----------------|--------------------|----------------------------------------|
| Resistance | $2.77 | 0.618 Fib retracement |
| | $3.08 | 1.0 Fib level |
| | $3.59 | 1.618 Fib extension (Wave iii target) |
| Support | $2.45 | 0.236 Fib retracement |
| | $2.26 | Breakout support |
| | $1.95 | Invalidation level |
FAQs
1. Is XRP’s breakout sustainable?
Yes, if it holds above $2.45. The 4-hour close above descending resistance and improving RSI support bullish momentum.
2. What’s the highest target for XRP in this cycle?
Fibonacci extensions suggest $3.59–$4 if the impulsive wave completes.
3. What invalidates the bullish scenario?
A drop below $1.95 would negate the breakout, reverting to consolidation.
Disclaimer: This content is for informational purposes only and not financial advice. Cryptocurrency investments are high-risk; consult a financial advisor before making decisions.
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