XRP Price Next Targets, Elliot Wave Analysis and More
The post XRP Price Next Targets, Elliot Wave Analysis and More appeared first on Coinpedia Fintech News
XRP is currently up by more than 3% and is trading at $2.06 at the time of writing. According to analysts, XRP is showing signs of short-term strength after holding a key Fibonacci support zone between $1.89 and $1.99. Following this bounce, the price is now moving towards a resistance area between $2.15 and $2.17.
This upward movement appears to be part of a corrective ABC structure, with the current leg the C-wave expected to complete a five-wave pattern. If this pattern plays out, XRP could reach the 100% Fibonacci extension level, aligning with historical swing highs and the 61.8% retracement level from previous moves.
This resistance zone is important. If XRP is still in a broader wave 4 correction, the price should not break decisively above $2.16$2.17. While a temporary move above is possible, any sustained rally beyond $2.59 would challenge the current corrective outlook.
As long as the move remains a three-wave structure, it is likely a temporary rally within a larger corrective pattern. Traders should watch for reactions around the $2.15$2.17 zone for clues about the next move.
The $1.89$1.99 area remains key support in the short term. As long as this level holds, the current upside momentum could continue.
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Text source: Coinpedia – Fintech & Cryptocurreny News Media| Cr
