XRP's PA remains relatively unchanged, with no major updates in the near term. However, Technical Analysis indicates that the lower boundary of a potential triangle pattern is continuing to react. Here is a breakdown of the current situation and the price movement to follow in the future. At the time of writing, XRP has pumped more than 5%, trading at $2.12.

Key response of the lower boundary

XRP has shown a mild reaction to the trend line that has been touched three times. Although this trend line is important, it has not yet confirmed the completion of a clear pattern. The current trend may be part of a deeper wave within a larger Elliott wave triangle.

Current view: The horizontal triangle is in progress

The analysis of the past few weeks has remained essentially unchanged. XRP appears to be in the process of forming wave 4, and PA may follow a triangular structure. As triangles are fragile patterns, unexpected changes may occur, so vigilance must be maintained on any changes in market structure to key levels.

Key levels worth following: resistance level and support level

Support levels: $1.95 and $1.90 (key downside levels)

Resistance level: $2.42 (key level, may be rejected and needs to be followed)

The level of $2.42 is particularly important because it aligns with the potential target of wave C. Historical price patterns indicate that wave C often reflects the length of wave A, with the 61.8% extension level playing a key role.

What will happen next

If XRP reaches the range of $2.42 to $2.45, it may face significant resistance. In addition, the trend line in this area may prevent further upward movement. While it cannot be guaranteed that XRP will reach this area, it is a key area to follow.

If it falls below this level, it indicates that the structure is nearing completion and may lead to a breakout. On the other hand, if there is an impulsive decline, the focus may shift to a more pessimistic outlook, and support between $1.39 and $1.80 will become more important.