Usman Salis
XRP (Ripple) has been consolidating within a corrective Elliott Wave pattern for months, but technical indicators suggest this phase may be ending. Traders are watching a key resistance level that could trigger a significant upward move, with momentum building and Fibonacci levels aligning for a potential breakout.
XRP Chart Analysis: Approaching Pattern Completion
Technical analysis from Dark Defender shows XRP completing its ABCDE corrective pattern, typically marking the end of consolidation.
Wave E has formed between $2.65–$2.70, creating solid support. The critical $3.33 resistance level must be overcome to confirm trend reversal, with intermediate resistance at $2.85, $2.99, and $3.11 based on Fibonacci levels. Momentum indicators suggest XRP is in its "final consolidation phase" as buying pressure builds.
Market Dynamics Supporting Upward Movement
The technical setup mirrors previous XRP patterns that led to major rallies, encouraging technical traders. Strong community sentiment and improving crypto market conditions, including better liquidity and potential regulatory clarity, could support a breakout scenario.
Critical Level at $3.33
The $3.33 resistance represents the key level for XRP's next move. A breakout could push prices toward $3.70 and higher if momentum continues, while failure to hold $2.65 support might extend consolidation. As XRP approaches this inflection point, the resolution could determine its trajectory for months ahead.
Usman Salis
