XRP News Today: XRP Eyes Wave 5 Rally as Price Resets for Next Push

XRP is currently consolidating near $2.90, with traders and analysts closely monitoring technical indicators that suggest a potential fifth-wave rally could be on the horizon [1]. This consolidation phase follows a strong third wave that reached $3.10, a level aligned with the 2.618 Fibonacci extension of wave one, as noted by veteran trader Matthew Dixon [1]. A textbook fourth-wave correction is now unfolding, with key support levels between $2.90 and $2.93 acting as crucial areas for buyers to defend [1].

The RSI has retreated from overbought levels, falling from 80 to 53.7, signaling a technical reset that often precedes a continuation of the bullish trend [1]. This reset has been interpreted as a neutral development rather than a bearish sign, with many traders viewing it as a setup for renewed price strength [1]. Confirmation of a fifth-wave breakout would require XRP to break above $3.10 and move toward the $3.22 target [1].

Dixon emphasized that the bearish divergence observed during the pullback was expected and is now contributing to a more favorable setup for a bullish continuation [1]. Traders are closely watching $3.10–$3.22 as critical confirmation levels, while the $2.81 zone—corresponding to the low of the second wave—could attract buying interest if the price dips further [1].

Analysts using Elliott Wave theory have suggested that if a fifth wave forms, XRP could see gains of up to $5.25, $6.85, or even as high as $10–$15, depending on how the pattern evolves [3]. However, these are forecasts, and actual price movement will depend on broader market conditions and investor sentiment [3].

XRP has declined approximately 9% over the past seven days and is currently trading about 18% below its July 18 peak of $3.65 [2]. Despite the pullback, recent trading volumes have exceeded $110 million, indicating continued market participation [2]. The token is now hovering near $3.09, a level that reflects the ongoing battle between buyers and sellers [6].

Market observers have also pointed to potential catalysts that could drive XRP higher, including a possible SEC settlement or the approval of an XRP ETF [4]. These developments could significantly alter the token’s risk-reward profile and attract institutional capital [4]. Additionally, a break above the $3.40–$3.65 range could initiate a new price discovery phase, with some models suggesting an upside target of $11.50 by the end of 2025 [5].

Despite the bullish technical setup and speculative forecasts, caution remains warranted. XRP continues to face macroeconomic headwinds, including geopolitical tensions and uncertainty around interest rates, which are influencing broader market dynamics [6].

As the market looks ahead, the coming weeks will be critical in determining whether XRP can break out of its current consolidation phase and move toward the $3.22 target. For now, the price action remains consistent with a bullish case, though traders are advised to remain alert to potential corrections or external shocks.

Source:

[1] XRP Eyes Wave 5 Rally as Price Resets for Next Push (https://blockonomi.com/xrp-eyes-wave-5-rally-as-price-resets-for-next-push/)

[2] Ripple's XRP Climbs 5%, But On-Chain Data Flags Further Risks Ahead (https://cryptoadventure.com/ripples-xrp-climbs-5-but-on-chain-data-flags-further-risks-ahead/)

[3] XRP / TetherUS Trade Ideas — BINANCE:XRPUSDT (https://www.tradingview.com/symbols/XRPUSDT/ideas/page-2/)

[4] XRP Price Prediction: XRP Could Hit $15. If It Does, How... (https://coindoo.com/xrp-price-prediction-xrp-could-hit-15-if-it-does-how-high-could-its-upcoming-rivals-go/)

[5] Gemini AI Predicts Price of XRP, Solana, Bitcoin Hyper by End of 2025 (https://coincentral.com/gemini-ai-predicts-price-of-xrp-solana-bitcoin-hyper-by-end-of-2025/)

[6] Could a surprising NFP miss ignite gold's path... (https://www.instagram.com/p/DM5z_39KNoX/)