Key Insights:
- XRP breaks $2.06 support, placing $1.89 as the next critical level for price stability.
- Wave (B) yet to confirm, with resistance between $2.17 and $2.33 holding firm for now.
- RSI and MACD show mild strength, but price lacks momentum to break out of consolidation.
XRP has moved below the $2.06 level, which had been holding as short-term support during its recent climb. This move shifts market attention to lower support levels and suggests that buyers are losing strength in the near term.
This drop lines up with the 0.5 Fibonacci retracement of the recent upward leg. Price is now approaching a key support zone between $1.99 and $1.89. These levels are often used to assess whether the broader bullish structure remains intact. A hold above this range could support a possible recovery.
Market Waits for Confirmation of Wave (B)
Chart patterns show a completed five-wave drop from the recent high, marked as wave (A). Since then, XRP has been trading sideways around $2.05. This range shows no clear sign of a new upward move starting.
Resistance between $2.17 and $2.33 remains in place. This area lines up with common Fibonacci retracement levels and is being watched for a possible reaction. Some analysts say, “there is still no strong evidence that wave (B) has started.” Until price moves into or through this zone, the next direction stays uncertain.
$1.96 and $1.89 Support Levels in View
If the $1.99–$1.89 range fails to hold, the next support to watch is $1.96. This level has acted as a base in recent price history. A drop below it could open the door to deeper retracement levels around $1.77 and $1.68.
These lower levels match extended Fibonacci zones from earlier moves. Some chart setups suggest that “the orange scenario might be taking the lead,” pointing to a larger pullback if price weakens further.
Indicators Show Weak but Improving Signals
XRP was trading near $2.09 on the 1-hour chart, where price has been steady after a recent slide. The MACD shows a small bullish crossover, but with low strength. Momentum is soft, and the histogram shows only a slight increase in buying pressure.
The RSI sits at 57, which shows some upward movement but still falls short of confirming a shift in trend. Price action remains flat, and there is no strong move yet in either direction. Traders are watching for a break above resistance or below support to define the next move.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.