Author: Content Editor
Ripple's XRP is showing minimal changes on the chart and is currently in the midst of a larger upward trend. It may be forming a third wave in an Elliott Wave structure, but an internal correction is occurring. XRP is positioned between its all-time high and the breakout point of 2021. At the moment, XRP is trading at $2.47, up over five percent in the past 24 hours. The $2.48-$2.49 range is a key level to watch, as a break above it could signal further upward movement. If XRP sustains a breakout above the price channel, it may target $2.76 or higher. Key support levels for XRP are between $1.50 and $1.79, while the $3.23-$3.30 range is crucial on the resistance side. There is potential for XRP to reach $5-$10 in the longer term, but this may happen during the third or fifth wave of the larger cycle. The overall trend is upward, and attention is being given to any signs of additional upward momentum. Risk factors lie between $1.50 and $1.79, although XRP could stay above the 2021 high and experience a sideways correction instead of a deep pullback. On the shorter time frame, XRP is attempting to break out of its current price channel, but the breakout has not been confirmed yet. The chart follows an ABC pattern, suggesting a potential correction.