- XRP remains in a corrective phase, with resistance at $2.82 and $3.00.
- A breakout above $3 could confirm the end of Wave 4 and signal a major move.
- Key support levels are at $2.17, $1.96, and potentially as low as $1.50.
XRP continues to consolidate within a corrective channel, maintaining the structure of a typical Wave 4. The market’s choppy movements are testing traders’ patience, but the broader trend remains intact. On the 4-hour chart, the corrective structure remains clear, with key resistance at $2.82 and $3.00.
If XRP pushes to these levels but fails to break through, the Wave 4 structure stays valid. However, a breakout above $3 would indicate a shift, signaling the correction is complete and opening the door for a much larger rally.
On the downside, XRP traders are closely monitoring $2.17 and $1.96 as crucial support levels. If these levels hold, it would reinforce the current wave structure before the next major move. Any deviation from this setup would require a reassessment of the overall count.
XRP Drop Below $2.52 Shakes the Market
Recently, XRP fell below the critical $2.52 level, causing concern among traders. The market’s 6% decline triggered a shakeout, but long-term projections remain unchanged. The drop led to a reevaluation of the wave count, now positioning XRP within a possible final correction phase before a major upside move.
The daily chart shows that XRP has already retraced to the 0.5 Fibonacci level, aligning with a major resistance point from 2021. This type of retracement is common in market cycles and does not necessarily indicate a trend reversal. Instead, it suggests the possibility of a higher low before the next leg up.
Key Levels to Watch for Reversal
Traders are now watching three critical support levels: $2.23, $1.86, and $1.50. These levels serve as potential entry points for buyers looking to capitalize on the next wave up. Notably, the first two levels do not require a new low, meaning XRP could find support and rebound without dropping significantly further.
If XRP does make a new low, $1.50 becomes the next key retracement target. This aligns with standard Wave 2 corrections, setting the stage for the next major push. Meanwhile, a breakout above $3 and then previous all-time highs would confirm a trend reversal and bring renewed momentum into the market.
Market Prepares for the Next Major Move
The ongoing correction phase is creating opportunities for strategic entries rather than panic-selling. The market tends to shake out weak hands before making its biggest moves. XRP’s next confirmation signal will come from a clear breakout past previous highs, first at $3 and then at $4.
Until then, traders must stay patient and let the market develop naturally. The big picture remains unchanged; this correction could be the foundation for a massive Wave 3 rally that surpasses all previous highs.
