After last Friday’s sudden flash crash, XRP appears to have completed its corrective Wave (2) phase right at the 0.382 Fibonacci retracement and the weekly pivot zone — a key technical support area watched closely by traders.
📉 Momentum Analysis:
The RSI recently turned bearish, showing more downside potential before entering the oversold region. The absence of bullish divergence indicates that the short-term correction may not yet be over. However, once the current dip stabilizes, a strong recovery is expected.
📈 What’s Next for XRP:
Analysts anticipate that XRP could revisit the lower wick area for a retest before beginning its next impulsive Wave (3) rally — a phase that could drive prices into new price discovery zones, with an initial target around $5.7.
⚠️ Long-Term Outlook:
It’s important to remember that XRP’s recent breakout originated from a multi-year triangle pattern, often viewed as a terminal formation. While some models suggest a possible pullback toward $0.30, such predictions remain speculative and should be approached cautiously.
💡 Bottom Line:
The market may still see short-term volatility, but the broader technical structure continues to support XRP’s long-term bullish momentum. Traders are advised to manage risk carefully and stay patient for confirmation of the next big wave.
Safe trading! 🪙
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