$XRP continues to trade within a complex consolidation zone, holding critical support while facing strong resistance overhead. Letโs break down the current structure and possible paths forward.
โ The Bigger Picture
At this stage, no major top is confirmed, and the chart still suggests the potential for higher prices. The ongoing move is best described as an extended sideways structure, with both upside and downside corrections unfolding.
Support levels remain intact โ especially the August low.
No impulsive downside โ selling pressure has been corrective, not trend-ending.
Resistance remains heavy at $3.40 โ a level XRP failed to break in January and again in July.
๐ Key Scenarios
1. Bullish Continuation (Leading Scenario)
As long as the August low holds, the yellow bullish pathway remains in play. This could unfold in two ways:
Direct Breakout โ XRP pushes higher in a 3-wave ABC structure, eventually targeting $5+.
Triangle Formation โ XRP continues sideways, building higher lows and higher highs before a breakout.
2. Deeper Pullback (Alternative Scenario)
If XRP breaks below the August low, the structure may morph into a deeper correction, potentially extending Wave 4 (from April). In that case:
Next support levels: $2.21 โ $2.46
Still within a longer-term bullish context, but extended consolidation would follow.
