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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.