XRP has been moving in a tight range after its strong rally earlier this year. While the larger trend still looks bullish, recent price action shows the token testing important support areas that could decide its next big move.
Weekly Chart Shows Divergence but Long-Term Trend Intact
On the weekly timeframe, analyst Josh of Crypto World says XRP still carries a bearish divergence that has not yet been invalidated. This means some caution remains for long-term traders, even though the overall structure is still bullish. The bigger picture hints that XRP could be setting up for further upside, but short-term movements may continue to be choppy.
Daily Chart: Crucial $2.97–$3.10 Zone in Focus
On the daily chart, XRP is retesting the $2.97–$3.10 zone, which has acted as both resistance and support in recent weeks. A confirmed close back below $2.97 could weaken the bullish case in the short term, pushing the price into a sideways range.
If bulls manage to hold above $2.97 and reclaim $3.10, it would strengthen the breakout structure. On the downside, a break below $2.90 would invalidate the current bullish setup and open the door for a retest of deeper support around $2.85–$2.90.
Support and Resistance Levels to Watch
- Immediate support: $2.97, followed by $2.90
- Critical support: $2.79 – breaking below this level could trigger a deeper correction, with targets around $2.21–$2.46
- Resistance levels: $3.10, followed by $3.30–$3.40
For now, as long as XRP stays above $2.79, the main thesis remains that September marked a fourth-wave bottom, with a possible fifth-wave rally targeting $5 in the longer term.
Elliott Wave Outlook: Bulls Still in Control
Analysts tracking wave counts predict XRP may be in a fifth wave higher. The current pullback appears to be part of a healthy correction within a broader uptrend. However, conviction remains low until XRP shows a clear five-wave move upward.
If the bullish scenario plays out, XRP could extend toward $5 in the coming months. A failure to hold above $2.79, however, would favor a bearish scenario with a much deeper pullback.
