Usman Salis
This development could signal a shift in market sentiment, potentially favoring buyers after a prolonged downturn. The asset now sits at a critical junction where technical levels will determine whether bulls can regain control.
Current Technical Picture
Crypto analyst DustyBC Crypto recently shared insights indicating that XRP might be wrapping up its extended corrective wave (E). The 8-hour chart reveals XRP trading within a descending channel characterized by Elliott Wave structure spanning legs A through E. The recent price action suggests a possible bottom forming around the $2.30–$2.40 range, which currently serves as the primary support zone.
Holding above $2.30–$2.40 remains essential for maintaining bullish prospects. Meanwhile, the critical resistance area sits between $3.18 and $3.48 — breaking through this zone would confirm lower-risk entry conditions for those looking to establish positions. If momentum builds, initial upside targets emerge around $4.12, with potential extension toward $4.62 in a more aggressive scenario.
Market Context
The timing aligns with growing optimism surrounding Ripple's expanding role in cross-border payments and its improved regulatory standing in the United States. Many traders believe that finishing the corrective phase could attract fresh investment and accelerate adoption trends.
However, DustyBC Crypto emphasizes caution regarding leverage use. Even modest gains in the current environment can deliver returns comparable to private equity investments, making excessive leverage unnecessary and potentially dangerous given liquidation risks.
XRP finds itself at a pivotal moment. Continued support above $2.30 combined with a push beyond $3.18 would strengthen the bullish case considerably. For now, patience matters most — waiting for clear confirmation rather than anticipating the move could make the difference between catching a genuine rally and getting caught in a false breakout.
Usman Salis
