XRP News Today: XRP Retraces to 0.5–0.618 Fibonacci Zone With $4.67 Target in Sight

XRP is currently retracing toward the 0.5–0.618 Fibonacci retracement zone following a confirmed breakout from a descending wedge pattern. This technical development has led analysts to set an initial upside price target of $4.67, driven by reduced exchange supply and favorable chart structure [1]. The retracement levels, particularly in the $3.09 range, are considered a key accumulation area for long positions and are expected to act as support for potential upward momentum [1].

According to the analysis, the price movement indicates the end of a prolonged corrective phase, with the weekly structure remaining intact. Traders are closely monitoring retracement levels as the next critical focus area for potential re-entry opportunities. The 0.5–0.618 zone is especially significant, as it aligns with structural support and is seen as a prime accumulation point for bullish investors [1].

Technical indicators present a generally constructive outlook. XRP is currently trading above all major moving averages, including the 200 EMA at $2.46, reinforcing the bullish trend. The RSI is near 50, suggesting room for further upward movement, while the MACD histogram remains slightly negative but shows no signs of divergence. Analysts have noted that liquidation heatmaps reveal a liquidity cluster near $3.4, which could serve as a short-term magnet for price action [1].

Exchange supply metrics also support the bullish narrative. Centralized exchange holdings have dropped to a monthly low of 5.66%, reducing immediate sell-side pressure and aligning with long-term holding behavior. This decline in on-exchange inventory is seen as a positive sign for sustained upward momentum [1].

Market-wide data from CoinMarketCap shows that XRP remains in a state of intraday volatility, with both upward and downward swings observed in the last 24 hours. Despite relatively lower trading volume, the total market capitalization has increased, signaling continued activity. Daily spot trading on Binance reached $356 million, further indicating ongoing interest [1].

According to analyst forecasts, the measured move strategy suggests that the first major upside target following the wedge breakout is $4.6704 USDT. This level is considered the next logical destination if the current bullish momentum continues. Traders are advised to monitor the 0.5–0.618 Fibonacci zone for potential accumulation and re-entry setups [1].

As the price consolidates near $3.09, market participants remain focused on whether the retracement will hold, potentially setting the stage for a new wave of bullish activity. The reduction in on-exchange supply and the alignment of key Fibonacci levels with structural support suggest that the environment is favorable for long-term holders.

Source: [1] XRP Eyes $4.67 Target as Price Retraces to Key Fibonacci Accumulation Zone (https://en.coinotag.com/xrp-eyes-4-67-target-as-price-retraces-to-key-fibonacci-accumulation-zone/)