Elliott Wave patterns signal XRP may be entering a powerful Wave 5 surge, with Fibonacci targets reaching as high as $37.55.
The current consolidation phase and neutral RSI suggest a breakout is near, pending a push past key resistance around $5.36.
Even though XRP is subject to fluctuation in short-term drops, it has a large market cap and is one of the top 5 crypto valuations.
XRP is drawing fresh attention from traders and analysts as technical indicators point to a potential breakout following weeks of consolidation. Elliott Wave patterns indicate that a Wave 5 bull run is just around the corner, as well as the accumulation of sustainability (bulls). The platform may be formed to see XRP returning to its rising trend and testing out new all-time highs.
According to STEPH IS CRYPTO, technical analysis of an XRP/USD cryptocurrency pair on a 4-day price chart on Bitstamp shows the XRP seems to be ready to break out in a seriously bullish manner. The chart employs Elliott Wave Theory, illustrating that XRP has completed Waves 1 through 4, with the next leg, Wave 5, projected to reach new highs. Notably, the Fibonacci extension tool marks the 1.618 level at an ambitious $37.55, with intermediate targets at $11.28 (1.0 level) and $23.73 (1.382 level).
The existing market appearance implies the phase of consolidation, which should constitute the foundation of Wave 5, further solidified by a bullish rocket emoji signifying robust upside activity.
Technical indicators also highlight key support and resistance zones, with the 0.618 retracement level sitting around $5.36. This zone may serve as a pivotal breakout level.
As the foundation of Wave 4 falls around the extent of the $1.61 span, experts believe that the established breakout target above the declining trendline might start an upward parabolic in the end. XRP might be undergoing the starting point of a rally that might reshape its future in the market before 2026, provided the market mood and other macroeconomic conditions keep the crypto community alert.
XRP experienced a modest pullback on Tuesday, dipping 2.20% to trade at $2.15, according to data from CoinMarketCap. That fall happens amid a substantial decrease in the 24-hour trading volume, which decreased by more than 31% to $3.33 billion, implying a lack of interest by investors or temporary exploitation of incomes. Nevertheless, the crash dip has not eclipsed the fact that the XRP has a solid market capitalization of 126.86 billion, thereby making it the fourth-largest cryptocurrency in the market. The available number of XRP available for sale is currently circulating at 58.88 billion XRP, with the total supply close to its 100 billion limit. Amidst the volatility that has taken over the entire cryptocurrency market, the upcoming activities of XRP are under close surveillance by analysts, especially following some recent positive technical forecasts.
XRP has maintained the sideways trend of trading.The RSI is close to neutral level, as it is observed at 44.27, and it is not in the overbought or oversold area, whereas the MACD is slightly bearish, as the signal and MACD line stay below zero.
Although the previous boom reached up to a high of about 0301 towards the end of 2024, the asset went into an extended consolidation period, with a current trading volume of 60.03 million. According to analysts, XRP has been in the wait-and-see region, and a breakout above the resistance or a slip below the prevailing supports is likely to determine its next key movement.
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