Key Insights:
- XRP confirms strong support near $2.18, keeping the bullish structure intact after a clean retest.
- Wave count suggests final push toward $2.58–$2.66, with $2.70 acting as the breakout zone.
- Trading volume holds steady as buyers watch BTC for confirmation before the next XRP move.
XRP was showing resilience after a recent correction, holding steady near the $2.18–$1.90 range. This zone acted as resistance in previous months and has now flipped to support. After breaking a multi-month downtrend, XRP moved sharply higher before cooling off. The retest of this support has drawn interest from buyers, suggesting the trend remains intact.
Since late December, XRP has stayed above its previous consolidation levels. The break above the descending trendline marked a shift in short-term direction. Following that move, the price ran into resistance just above $2.30 and began a controlled pullback. So far, the structure appears orderly, with support still holding.
Technical Setup Suggests One Leg Higher
The recent move fits within a five-wave structure based on standard price pattern theory. According to analyst Tara,
Source : Tara/XThe current level, around $2.18, lines up with the 0.382 retracement — a common area where price pauses before moving higher.
Price action has respected technical zones, and the structure remains bullish if XRP holds above $2.13–$2.18. The correction so far has stayed within expected ranges. The market is watching for a potential fifth wave to form, which would confirm the completion of the current pattern.
Target Moves Toward $2.58–$2.66
With this correction low in place, updated projections suggest that the next move could take XRP toward the $2.49–$2.66 range. The $2.58 level aligns with a 0.618 extension from the previous move. This target would complete the five-wave sequence and mark the first full wave of a potential new trend.
Kamran Asghar shared that XRP was “holding strong at key multi-month support after retest,” adding that a “breakout above $2.70 [is] loading.” This places focus on the upper resistance zone that previously capped price in late October.
Price and Volume Activity
At the time of writing, XRP was trading near $2.19. It has fallen slightly over the last 24 hours but remains up more than 19% on the week. Trading volume stands at over $4.4 billion, reflecting steady activity across exchanges.
Short-term indicators show cooling momentum, but the market structure remains stable. The RSI is approaching levels where buyers may return. If price holds current support and broader market conditions improve, XRP could be preparing for another move upward.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Source: https://coincu.com/analysis/xrp-holds-strong-next-stop-2-70/
