The latest XRP price predictions and key levels affecting the cryptocurrency’s movement are discussed, including targets up to $5.85.
XRP Price Trend Analysis
The XRP chart reveals a breakthrough of the descending trendline with confirmed reversal, turning previous resistance into support. Traders observe such changes as signals of market sentiment shifts.
Elliott Wave Theory: Understanding Patterns
According to Elliott Wave Theory, a bullish five-wave pattern is seen on the XRP chart. Wave (1) is completed, and Wave (2) is either forming or anticipated. Wave (3) could lead to a strong breakout with targets of $3.94 and subsequently $5.85.
Critical XRP Price Levels
The analysis highlights critical XRP price levels. Support at $2.42 is considered a strong foundation. A short-term target of $2.75 is noted, $3.94 as a mid-term goal, and $5.85 as a long-term target. Key Fibonacci levels, 61.8% ($2.5556) and 70.2% ($2.6502), could act as buying zones or support before the next surge.
The analysis suggests XRP could experience a retracement to the $2.55-$2.65 zone before potentially breaking out strongly into Wave (3). Each price target represents a significant milestone in XRP’s future movements.
