Recently, XRP has been attempting to overcome the crucial $2.40 level. After a recent dip of more than 5-6%, some forecast possible further upward movement under certain conditions.
Key Levels and Market Phase
Currently, XRP is in a consolidation phase that could last a while. However, on shorter time frames, this phase may be nearing its end. A final upward push could complete a larger fifth wave, potentially driving XRP to new all-time highs.
Long-term Resistance Zones
Key resistance levels include the all-time high of $3.30 from December 2017. Above that, the next resistance points are $4.20 and $5.00. If XRP manages to reach a new high, a significant correction similar to the previous wave two could follow.
Short-Term Market Structure and Support
On shorter time frames, XRP is forming a triangle pattern, indicating market indecision. This typically precedes another upward move. A break above the $2.46 level would signal a low has formed, potentially clearing the way for new all-time highs. Key support levels are between $2.29 and $2.40. Falling below $1.96 would indicate a larger correction.
For XRP to reach new highs, it needs to break above the $2.46 level. Until then, focus remains on whether the price can hold at support and trigger substantial growth.
