XRP News Today: XRP Holds $2.88 Fibonacci Support Amid Bullish Elliott Wave Outlook

XRP has shown resilience as it continues to hold the 0.618 Fibonacci retracement level near $2.88, a critical juncture in technical analysis that traders are watching closely for signs of a potential breakout [1]. Market analyst CasiTrades has noted that this level aligns with the expected completion of subwave 2 in an Elliott Wave structure, suggesting that a bullish phase—represented by subwave 3—may be on the horizon [2]. This interpretation adds weight to the idea that XRP is in a favorable position to test key resistance levels in the coming weeks.

Currently trading at $2.90, XRP’s ability to maintain support above $2.88 is seen as vital to preserving the broader bullish trend. A confirmed breakout above $3.21 would represent a significant shift in market dynamics and could set the stage for a move toward $3.41 [2]. Conversely, a breakdown below the golden retracement could signal a deeper correction, potentially forcing a retest of lower support zones [1]. Volume confirmation and Bitcoin’s performance remain key indicators in this context, as correlations between the two assets often influence XRP’s direction [3].

The confluence of Fibonacci support with Bitcoin’s relative strength index (RSI) support is viewed by some analysts as a synchronized bullish signal. This alignment enhances the likelihood that XRP will continue to benefit from broader market optimism, particularly if Bitcoin regains strength and triggers a renewed risk-on sentiment in the cryptocurrency space [1].

Beyond technical factors, Ripple’s ecosystem has continued to develop, with the RLUSD stablecoin expanding the utility of XRP in payments and liquidity management since its launch in December 2024 [1]. This evolution adds a fundamental layer to the asset’s appeal, potentially reinforcing its role in both retail and institutional trading strategies.

For traders, the current setup offers a defined risk-reward profile. Holding above $2.88–$2.95 is essential for maintaining the bullish narrative. A break above $3.21 would validate the momentum thesis and open the door to higher targets, while a failure to hold the golden pocket could invalidate the Elliott Wave count and lead to a reevaluation of the asset’s short-term outlook [2].

The broader market environment remains mixed, with Ethereum outperforming Bitcoin in recent 24-hour performance [4]. However, uncertainty surrounding the U.S. Federal Reserve’s rate decision continues to influence risk appetite, with potential volatility on the horizon if expectations for a rate cut are not met [4]. This macroeconomic backdrop underscores the importance of XRP’s technical structure, which could either stabilize or become more volatile depending on broader sentiment.

Fibonacci retracement levels are widely used in assessing price action, and their confluence with increased trading volume and institutional interest in XRP suggests a higher probability of a sustained rally if key levels hold [3]. As such, market participants are advised to closely monitor resistance levels and implement risk management strategies, including stop-loss orders, to mitigate potential downside [1].

Source:

[1] "XRP Golden Retracement Is Holding. Here's What It Means for Price" - Times Tabloid (https://timestabloid.com/xrp-golden-retracement-is-holding-heres-what-it-means-for-price/)

[2] "XRP Price Prediction: Elliott Wave Shows Final Dip Before 4 Rally" - The Tradable (https://thetradable.com/crypto/xrp-price-prediction-elliott-wave-shows-final-dip-before-4-rally-ig--m)

[3] "Solana (SOL) Update – Aug 20, 2025" - Facebook · Crypto GB (https://www.facebook.com/groups/cryptogb/posts/24234680806152357/)

[4] "Why Is Crypto Up Today? – August 21, 2025" - Cryptonews (https://cryptonews.com/news/why-is-crypto-up-today-august-21-2025/)