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Ripple’s XRP is currently trading below the $2.30 level and has slipped below into the red zone. However, the coin is up by more than 50 percent in the past week. XRP is currently consolidating at a high level above its 2021 bull market peak. Today, the price is moving sideways, which is typical after a rally. Even though XRP has dropped from its recent high, it’s still relatively close to where the rally began.
Current Wave Structure
XRP is in a larger third wave of a bullish cycle. This move includes smaller subwaves, and we are actively tracking these. Right now, XRP might be in the fourth wave of this structure, but the overall rally is not over yet. While there’s potential for a deeper correction, the focus remains on higher prices.
Support and Resistance Levels
There’s not enough data to confirm if a major correction is starting, but analysts are watching key support levels. The price may find support between $1.15 and $1.79 if it pulls back, but this is still speculative.
Market Action: Corrective or Bullish?
XRP seems to be in a corrective phase right now, which could mean sideways consolidation or a sharper pullback. Corrections often lead to indecision, so we might see small ups and downs without a clear trend.
Future Price Targets
If the price moves higher, the next targets are around $3.20 to $3.30 (previous highs) and possibly $4.20. However, the next big move depends on support levels holding up and whether the rally continues.
Micro Support Areas
On the smaller time frame, support is located between $2.33 and $2.06, with additional support at $2.21. There has been no impulsive price reaction yet, so the market is still uncertain. It’s possible that XRP’s price could form a triangle pattern, moving sideways for a while before a breakout.