XRP holds above its $2.88 breakout level, forming a bullish base as consolidation mirrors past parabolic cycle setups.
Elliott Wave targets between $8 and $27 emerge as XRP builds support above $2.40 with volume and EMA alignment in its favor.
Short-term patterns like a falling wedge and double bottom point to renewed upside with targets near $2.616 and $2.716.
XRP’s breakout above its long-standing all-time high has reset technical sentiment across both weekly and intraday charts. Market watchers now track consolidation above former resistance, with signs of trend strength holding above key levels.
Price Holds Above Breakout Level, Consolidation in Progress
XRP surged past its 2018 peak of $3.41 in early 2025, confirming a multi-year breakout. Since then, the price has corrected to $2.40, but remains tightly held above the $2.8869 support zone. Analysts consider this structure a strong base for the next potential leg in the bullish cycle.
Following the breakout, market observers noted that XRP historically rallies only after breaching prior cycle highs. In 2017, the price broke $0.40 and soared to $3.40 before entering a multi-year downtrend. A similar behavior emerged in 2025, as XRP cleared its $3.4189 high and sharply expanded before retracing.
Source: Post on X
Now, price action hovers between $2.40 and $2.88, forming a narrow consolidation range. This has led analysts to interpret the current setup as bullish continuation, with buyers defending breakout levels. Holding above $2.8869, now a flipped support, adds further confidence to this structure.
Market watchers stress that a breakdown below this zone could invalidate short-term strength. Until then, the pattern mirrors XRP’s past cycles, parabolic rise, correction, and high-range basing. This repetitive behavior supports the thesis of a continuation setup still in progress.
Wave Structure Targets $8 to $27 in Projected Upside
Long-term Elliott Wave mapping shows XRP in a confirmed fifth wave breakout. Wave (5) began in early 2024 and aligns with historical breakout phases. Support has held at the 0.382 Fibonacci level of $1.46882 since the start of the rally.
Source: Post on X
To build on this, technical analysts point to Fibonacci extensions targeting $8.44 and $27.23. These projections are derived from wave (3) metrics, mirroring past impulsive expansions. Exponential moving averages slope upward, offering dynamic support to the ongoing move.
Could this higher low above $2.40 suggest a sustained directional shift? The structure holds above key levels with volume spikes supporting bullish pressure. Still, resistance at $3.36 must be cleared for upward momentum to fully resume.
Short-Term Patterns Signal Bullish Momentum Rebuilding
On the 30-minute chart, XRP price shows a double bottom alongside a falling wedge. Both patterns typically indicate local reversal potential after a pullback. Market watchers set short-term targets at $2.616 and $2.716 as next breakout zones.
These formations suggest momentum is rebuilding after the recent correction. If confirmed, they could trigger the next wave of bullish continuation from the current consolidation. Price behavior at these micro-levels now complements the broader uptrend structure.
