Peter Smith
XRP has been consolidating near key support levels while technical analysts closely examine Elliott Wave patterns that could signal the next major price movement. As one of the most closely watched cryptocurrencies, XRP's technical setup is drawing attention from traders who believe the current correction phase may be coming to an end, potentially opening the door for significant upward momentum.
XRP Price Holds Key Support as Elliott Wave Pattern Develops
XRP is back on traders' radar as technical signals line up with a promising Elliott Wave setup. According to analysis from @thecryptobasic, XRP appears to have wrapped up its corrective Wave (2) phase, which could mean we're about to see the start of a powerful Wave (3) rally.
In Elliott Wave theory, Wave (3) is usually the most explosive move, and if this pattern plays out, XRP might be gearing up for a major surge that could push it toward the $9.69 target.
Elliott Wave Levels to Watch for XRP Price
The charts show XRP recently finished its pullback phase, with solid support holding between $1.94–$2.00. As long as the price stays above this zone, the bullish scenario stays on track.
Key upside levels to watch include $3.50, $5.50, and $7.00 as stepping stones before potentially reaching that ambitious $9.69 target. Traders are keeping a close eye on these milestones to see if the momentum really shifts back to the bulls.
Can XRP Price Really Break Toward $9.69?
While the technical analysis looks promising, XRP's success depends on bigger market forces. Bitcoin's direction, overall market liquidity, and any regulatory news around Ripple will all play major roles.
With momentum indicators like RSI looking reset and ready, analysts think conditions are ripe for another strong upward move. If buying pressure kicks in, XRP could be setting up for one of its biggest rallies in years.
Peter Smith
