XRP News Today: XRP Consolidates Above $2.22 Mark Awaiting Breakout

XRP has been consolidating above the $2.22 mark, with technical indicators such as Fibonacci retracements and Ichimoku support suggesting a controlled bullish setup. The heatmap data reveals tight liquidity zones that align with Elliott Wave targets, reinforcing $2.22 as a key bounce level. The Relative Strength Index (RSI) stability and structural alignment signal momentum for a potential breakout above $2.60, provided that the $2.20 support holds.

XRP’s price action is technically engaged between bullish Fibonacci retracement clusters and liquidation resistance zones near $2.60. The overlapping Elliott Wave progressions and Ichimoku cloud dynamics signal the market’s critical positioning ahead of a possible breakout. The consolidation phase from June 8 to June 12 displays powerful alignment between Elliott impulse waves and retracement zones. Wave (1) to Wave (3) developed a defined arc, reaching a preliminary peak before pulling back into Wave (4). This pullback formed a classic falling wedge right within the Ichimoku support band, a historically reliable bounce region.

XRP’s movement respected the 61.80% retracement at $2.1958 before pivoting. As the price pushed higher, the 70.20% Fibonacci level at $2.2895 and the 50% mark at $2.3341 emerged as the next resistance objectives. XRP tagged $2.222 repeatedly, a level reinforced by Fibonacci extensions and psychological support symmetry. As the price climbed, the momentum flattened, with the RSI curling near its average baseline, signaling temporary exhaustion but not reversal. A five-wave completion pattern peaked near a visible resistance ceiling, triggering a textbook A-B-C correction with a defined bounce zone.

The asset’s curvature mirrored a rounding bottom, dubbed the “Coffee Cup Line,” offering a visual confirmation of structural continuation. Prices frequently interacted with the 85.40%, 61.80%, and 38.20% Fibonacci retracement levels. These intersections narrowed the volatility band and tightened the structure into a squeeze setup. The liquidation heatmap adds further technical depth to the current XRP setup. From March 14 to June 8, dense liquidity bands formed between $2.00 and $2.60. These regions correspond with current Elliott retracement levels.

XRP faced sharp rejection near $2.72 on May 22, defining a ceiling shaped by leverage liquidations. The price dropped and later tested $2.40 repeatedly without a clean breakout, highlighting resistance formed by trapped long positions. Below $2.30, heatmap compression zones signal strong bid clusters from earlier stop-hunt reversals. As the price revisited $2.222, liquidation data aligned precisely with projected Wave (C) targets, reinforcing that zone as a calculated bounce point. The RSI shifted upward from oversold conditions, confirming localized momentum support.

The XRP price structure remains bullish as long as the $2.20 base holds under Ichimoku support. Wave structure, Fibonacci precision, RSI behavior, and liquidity patterns converge into a tight technical rhythm for XRP. All evidence signals controlled consolidation, not weakness. The alignment of these technical indicators suggests that XRP is poised for a potential breakout above $2.60, provided that the support levels hold. The controlled bullish setup, reinforced by the heatmap data and Elliott Wave targets, indicates a strong foundation for a potential upward movement in the near future.