XRP maintains support at $0.62–$0.64 after breaking the trendline, signaling strength with higher lows near $0.615.
Binance shows rising CVD while Upbit shows selling, revealing divergence in demand as XRP tests VWAP resistance near $0.67.
Elliott Wave targets $6.3, with interim levels at $3 and $4.4, while $1.88 serves as critical downside support.
XRP continues to hold above a critical support range of $0.62 to $0.64, following a confirmed breakout from its descending trendline. This zone, previously resistant through March and April, has flipped into a structural base for buyers seeking continuation higher.
Buyers Defend $0.64 While Exchanges Show Diverging Flows
XRP’s recent price action reflects accumulation between $0.57 and $0.64, where historical wicks and long-bodied candles formed a reliable demand zone. The breakout above the descending trendline extending from February signaled a bullish shift, with price now forming a higher low near $0.615. Market structure remains intact as long as XRP sustains above this zone and holds recent VWAP levels.
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Dom, a technical analyst, reported that $2.20 remains the primary resistance level, holding back bullish momentum for nearly a month. He observed strong buying activity from Binance, where the cumulative volume delta (CVD) has steadily climbed, even as the price faced downward pressure. Upbit, on the other hand, showed dominant selling, contributing to recent retracements.
Dom emphasized the importance of the monthly VWAP near $0.6014, which has acted as short-term support, and pointed to the three-month VWAP at $0.6731 as the next potential resistance level. This level aligns with the upper VWAP bands between $0.67 and $0.70, zones that saw repeated rejection throughout April.
The price now hovers just below these VWAP resistance bands. If XRP sustains a close above $0.67, traders may eye the $0.75 to $0.78 range, previously marked by heavy interaction in February and March. Structural alignment with VWAPs signals building momentum, particularly if the price continues setting higher lows.
Elliott Wave Forecast Suggests Macro Bullish Continuation
Dark Defender has provided a long-term projection using Elliott Wave Theory on the weekly timeframe. His wave count identifies the current structure as Wave (5) in a five-wave sequence, which started after a retracement near $2.11. The new impulsive phase follows the break above the primary trendline and targets a high of $5.93.
Source: Dark Defender
The analyst expects Wave (1) to extend toward $3, followed by Wave (3) aiming at $4.4 and Wave (5) at $6.3. Fibonacci extensions support these levels, particularly the 261.80% zone, aligning with the final wave peak. According to his chart, $1.88 remains the key support if the structure sees short-term corrections.
