Ripple (XRP) is currently in a critical price range, and the Technical Analysis shows that long positions still have a chance to push the price into the fifth wave upward in Elliott Waves, with a potential target aimed at 5 dollars. However, maintaining the support level of 2.97 dollars in the short term will be key to sustaining the bullish structure.
Key Price Range: $2.97 to $3.10
Immediate support level: 2.97 USD, followed by 2.90 USD
Key support level: $2.79 (breaking below may trigger a deeper correction, target $2.21~$2.46)
Resistance level: 3.10 USD, followed by 3.30~3.40 USD
The daily chart shows that XRP is retesting the $2.97~$3.10 range, which has recently acted as both resistance and support.
Bullish scenario: Holding above $2.97 and reclaiming $3.10 will strengthen the breakout structure.
Bearish Scenario: Closing below $2.97 will hinder short-term bullish sentiment and may lead to a consolidation.
Weekly Chart and Long-Term Trend
Crypto World analyst Josh pointed out that there is still a bearish divergence signal on the weekly chart, but it has not yet failed. This means that while the long-term trend remains bullish, traders need to carefully observe short-term fluctuations.
As long as XRP stays above $2.79, technical analysts generally believe that September has marked the bottom of the fourth wave, and the fifth wave of a pump may follow, with a long-term target aimed directly at $5.
Elliott Waves Outlook: Potential of the Fifth Wave
According to the Elliott Waves theory, XRP may be in the early stages of the fifth wave of the impulse wave:
Current pullback: a healthy adjustment, paving the way for future upward momentum.
Target price level: If the bullish scenario holds, it is expected to reach 5 USD within the next few months.
Risk point: If it falls below $2.79, it will destroy the current wave structure and turn into a deeper correction.
Conclusion
The current price structure and wave count of XRP provide a clear battle map for long positions: maintaining 2.97 USD is key in the short term, while holding 2.79 USD is the lifeline for the long-term pattern. If support holds firm and breaks through 3.10 USD, the fifth wave rise of Elliott Waves may officially begin, and 5 USD will no longer be an unattainable target.
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