Ripple’s XRP finds itself at a pivotal point, aiming to surpass the critical $2.40 resistance. After a recent 5-6% decline that wiped out last week's progress, the token is showing signs of resilience. While the market appears indecisive, several key levels and patterns suggest a potential bullish continuation in the near term.
Major Levels to Watch
XRP’s price action is currently within a consolidation phase, but this period of stagnation may soon give way to a significant upward movement. Analysts point to the possibility of completing a fifth and final wave in the current market cycle, which could drive XRP to uncharted territory. Key resistance zones include the all-time high of $3.30 (set in December 2017), with additional hurdles at $4.20 and $5.00. Surpassing these levels may trigger a robust rally, though a sharp correction could follow, reminiscent of historical patterns in the market.
Short-Term Indicators and Support Zones
In the short term, XRP is exhibiting a triangular pattern, a formation often associated with impending breakout moves. A decisive break above $2.46 would signal a bullish reversal, paving the way for a sustained upward trend. Support levels to monitor closely are in the $2.29 to $2.40 range, with $1.96 acting as the critical threshold for preserving the current bullish outlook. A failure to hold above this support could indicate the potential for a deeper retracement.
The Path Forward
If XRP can break through its immediate resistance levels, it could ignite a rally toward new highs, provided market sentiment remains favorable. Investors and traders should watch for a firm break above $2.46, which could confirm the beginning of a new upward wave. As XRP navigates these critical price zones, maintaining its position above the green support area will be essential for sustaining positive momentum.
This is a crucial moment for XRP as it hovers on the edge of potential gains. With strong fundamentals and favorable technical setups, the token could soon reward patient investors with substantial upward movement.
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