After reaching a seven-year high in January 2025, XRP is still in a consolidation phase. During the consolidation, the price has slowly but steadily declined, dropping about 40% since then. Currently, bulls seem to have created a support level for this altcoin at $2, which remains strong even during the downturn. Therefore, the market expects the XRP price may soon hit the bottom and potentially rebound from there.
The XRP price consolidation may end soon.
Cryptocurrency analyst Dark Defender revealed on X (formerly Twitter) that the prolonged consolidation period of XRP's price is about to end. This analyst used monthly charts for analysis, pointing out the endpoint and bottom of XRP's price. According to him, this is actually XRP's 'final consolidation period', implying that a breakout will start from here.
As the consolidation phase is expected to end soon, cryptocurrency analysts are applying the five-wave analysis method to focus on the next movement of altcoins. Overall, this five-wave pattern still provides strong support for the price and might ultimately create an all-time high.
For the first wave, Dark Defender refers to it as 'Impulse Wave 1', expecting it to initiate an upward trend. The first wave is anticipated to push the price back to $3 before the second wave begins, which is bearish.
The second wave will trigger the XRP price to drop from $3 back to $2.2, laying the groundwork for the third wave. Once the third wave starts, cryptocurrency analysts expect the XRP price to reach an all-time high. The target for the third wave is to push the XRP price up to $5, breaking the historical high of $3.8 from 2017.
Next is the fourth wave, which is another bearish wave. According to charts shared by cryptocurrency analysts, this wave will lead to at least a 30% drop, pulling the price back to the $3 range once again. However, like the second bearish wave, the fourth bearish wave is expected to lay the price foundation for the final and more explosive fifth wave.
Once the fifth wave begins, it is expected to create a new all-time high, with prices rising over 100% from the bottom of the fourth wave. As shown in the chart, the target is above $6.
For cryptocurrency analysts, the main target levels in this wave of volatility are $3.75 and $58.85. Secondly, the major support and resistance levels are $1.88 and $1.63, while resistance levels are at $2.22 and $2.30.
