Peter Smith
While Bitcoin grabs headlines with wild swings, XRP is quietly building something special above crucial support. Technical patterns suggest we might be on the verge of an explosive move.
XRP Price Consolidates While Market Awaits Next Move
XRP is holding strong around $2.96, refusing to break below $2.90 support. This consolidation aligns perfectly with the golden Fibonacci level at $2.91—a setup that often precedes major moves.
Trader @CasiTrades noted this alignment could trigger Elliott Wave 3, historically the most powerful leg of any rally. The macro consolidation structure shows bulls are gearing up for the next wave higher.
Bitcoin shocked markets last weekend, diving to $110.5K before bouncing to $112.7K at the .236 Fibonacci retracement. If BTC fails here, a deeper correction toward $88K looms.
But XRP didn't flinch. While Bitcoin had its dramatic moment, XRP stayed cozy in its consolidation triangle, showing serious relative strength as buyers defend key levels.
Key Levels to Watch for XRP Price
XRP is trading near $2.96 with critical $2.90 support acting as the golden retrace (.618 Fib). Holding this level opens targets at $3.12 resistance. A breakout above $3.12 confirms the continuation pattern, unlocking $4.47-$4.50 and later $5.56-$5.70.
The RSI shows bullish divergences, suggesting weakening bearish momentum and potential for a sharp rebound.
If XRP holds above $2.90, we could see the start of a monster Elliott Wave 3 rally pushing beyond $5 toward new all-time highs. With solid support and this consolidation locked in, XRP is the altcoin to watch.
Peter Smith
