XRP news today: XRP Surges 10% After Breaking Key Fibonacci Resistance

XRP has demonstrated notable strength following its break above a crucial Fibonacci resistance area earlier this week. This upward movement was likely fueled by positive market sentiment, which was driven by recent advancements in crypto-based ETFs. Despite the complex structure of the rally, analysts are closely monitoring several key price levels to gauge the potential for a sustained bullish trend.

In the short term, XRP has been forming higher highs and higher lows, a classic indicator of upward momentum. The price action is currently following a diagonal wave pattern, which, while less powerful than a strong impulsive trend, can still support further gains. The recent swing low at $2.11–$2.12, recorded on April 24, now serves as a critical support level. As long as XRP remains above this range, the bullish scenario remains intact. A drop below this level would necessitate a re-evaluation of the short-term structure.

The next upside targets for XRP are in the $2.46 to $2.55 range. This area aligns with the 138% Fibonacci extension level, which is often considered a key milestone in wave-based analysis. Reaching this zone would complete a larger third wave in the current five-wave pattern, potentially signaling a more significant upward movement.

Despite these short-term bullish indicators, the larger structure of XRP's trend remains unclear. On the daily timeframe, XRP is still trading within a long-term descending parallel channel, indicating that the broader trend is currently bearish. However, there are emerging signs that this trend may be weakening. On the 3-day chart, the bearish divergence in the Relative Strength Index (RSI), which has been active since earlier in the year, is close to being invalidated. If the RSI moves above its previous high and the price breaks out above the $2.50 level, this would serve as a strong signal of a trend reversal. Such a development would shift XRP out of short-term relief rallies and into a more defined bullish trend.