XRP Price Prediction for January 4: Key Factors
Ripple's XRP is currently up over 1% and trading at $2.45. The current price action continues to follow a triangular pattern, indicating the potential for a short-term price increase. No confirmed peaks have been established in this structure, and the overall analysis still points to the formation of an Elliott Wave triangle. One potential scenario is to add a higher low before a strong upward move in the fifth wave. The market has undergone a corrective phase after reaching a peak of $2.90 a month ago, which included three upward waves and three downward waves, characteristic of a corrective phase. The support area for XRP lies between Fibonacci levels of $2.28 and $2.27, with the main invalidation point below $1.95. To confirm the upward trend, XRP needs to break above $2.70. The outlook for XRP is that prices could be higher, with key resistance levels at $2.55, $2.62, and $2.72.
