The XRP price action has been a mixture of ups and downs lately, and analysts observe very important levels to see what happens next. While the market has faced some setbacks, the biggest image still seems hopeful for XRP fans.
Key resistance that retains XRP backward
Recently, XRP tried to break a difficult resistance zone between $ 2.55 and $ 2.62, but once again, the price was rejected. This area has been a problem for XRP for some time, as it has done for many other Altcoins in the market. After this rejection, the price withdrew slightly, but still remains above important support levels.
The biggest trend remains optimistic
Even with these little dives, the general trend for XRP continues to advance. In the daily table, XRP continues to form higher and higher high ups and downs, which is a classic sign of a bullish trend. At this time, the price is finding support of around $ 2.30 to $ 2.34, an area that was previously a resistance area. While XRP will remain above this level, the bullish impulse is expected to continue.
However, if the price falls below $ 2.30, the following important support is between $ 2.10 and $ 2.15. The fall under this area could lead to a deeper back in the short term.
Short -term price action: calm before movement
XRP is still under the effect of a recent bearish divergence, which caused a small fall followed by the lateral price movement. At the moment, it seems that XRP will not make great movements immediately. Bitcoin, who often leads the encryption market, still remains strong, and when Bitcoin remains stable, Altcoins as XRP generally remain silent for a while before making their movements.
Many market observers believe that if Bitcoin continues its upward trend, XRP could begin to recover in the next few days.
Elliott Wave Analysis suggests one more rally
According to a recent market analysis based on Elliott’s wave theory, a popular tool to predict market cycles, XRP could be in the middle of its fifth and final wave on the rise. This wave probably began when XRP reached a background in July last year.
If this pattern continues, XRP could point to new maximums, with long -term price objectives between $ 4.20, $ 5.00 or even $ 5.65 before a larger market correction begins.
Crucial support and resistance levels to observe (long -term)
For now, XRP remains in a narrow range. The key resistance is just above $ 3.30, while a strong support is $ 1.21. While the price remains above $ 1.21, the upward perspective remains in place. However, a fall below this level would weaken the current configuration and could force analysts to rethink their predictions.
In the short term, XRP has completed a five -wave pattern, and according to the Elliott Wave rules, a three -wave setback could be the following. The expected support for this setback is between $ 2.60 and $ 1.79. While XRP remains above $ 1.79, the upward trend is still sure.
