In our latest analysis of XRP, we’re seeing some interesting movements across multiple timeframes. Let’s dive into the current situation and what to watch for next.
Current Status on the 4-Day Chart
Yesterday, XRP showed a small reaction, and the price has almost reached the next upside targets we mentioned. However, from the perspective of the 4-day chart, the correction seems to still be unfolding. The smaller timeframe movements are too insignificant right now to confirm that the fifth wave to the upside (in our tracked yellow scenario) has actually started.
Currently, it looks like the fourth wave is still playing out. The price reacted just above the $1.57 level, a key target we identified, and found strong support around $1.55 — the 38.2% Fibonacci retracement level, which is critical for fourth wave corrections.
While this could hint at a potential low being in place, the internal structure doesn’t confirm a reversal yet. No solid buy signals have appeared. That said, we’re still expecting another high in wave five, potentially pushing XRP toward $5 or even $6+, as long as the $1.21 support holds.
If $1.21 breaks, it could be the first signal that the XRP bull market is over. There’s another support zone between $0.60 and $0.88, but if $1.21 fails, that lower zone may not necessarily hold either.
Zooming Into the Short-Term Charts
Switching to the 1-hour and 30-minute charts, the wave structure becomes clearer:
- The third wave likely topped out in January.
- We’re now in a fourth-wave correction.
- There’s a cluster of support between $1.50 and $1.55, with the 38.2% retracement at $1.55 being particularly important.
While another low isn’t absolutely required, the wave count would look more complete with one more minor dip. However, if the market shows reversal signals earlier, we’ll consider the low to be in.
Microstructure Update
From the Monday low, XRP moved up in three waves (forming wave A), pulled back in wave B, and is now in wave C moving upward. Yesterday, we highlighted a key micro support zone, and the market reacted beautifully from that area.
The 100% extension target for wave C is around $2.15–$2.16. XRP has nearly reached that level — very close, but not quite there yet. Ideally, we’d like to see one more high into that region.
Key Short-Term Levels:
- As long as $1.89 holds, XRP can still push higher to complete the wave C of wave 4.
- A break below $1.89 would suggest that wave 4 has topped and a fifth wave to the downside may start.
Once XRP completes the next high, we’ll be preparing for a potential move down. Support levels will be updated accordingly.
Final Thoughts
We are in a crucial area right now. Short-term, XRP looks like it could still push a bit higher, but be cautious — any break of key support levels could change the outlook quickly.