XRP Hits $2.13, $2.92 How Does Wave 2 Begin at Primary Fibonacci Levels?

After the December 3 correction, technical analysis of XRP showed corrective waves. In particular, the cryptocurrency is trading between significant Fibonacci levels that may correct for a time. Crypto researcher Dark Defender published observations on social media site X, citing the $2.13 and $2.92 price ranges as crucial for XRP.

XRP Tests Fibonacci During Market Correction

The XRP chart below, initially posted on social media by crypto analyst , shows that the price increase earlier in the month peaked at $2.92 on Binance, which matched with the 261.80% Fibonacci extension level. However, the token corrected to $2.17, a support, after this spectacular peak. This support is also just above the 161.80% Fibonacci extension level at $2.13, a key milestone for XRP.

The comeback from $2.17 shows the correction may be bottoming out, and his daily analysis supports Wave B.


This study uses a three-corrective-wave pattern for Wave B. XRP's price surge has repeated this Waves A, B, and C pattern. Waves A and C are downward, whereas Wave B is upward. If this corrective model repeats, XRP might rise to $2.92, the 261.80% Fibonacci extension level, before another bearish trend could bring it down to support around $2.13, the 161.80% level.

This suggests the XRP price may fluctuate between these levels before making a move.

Recent market conditions predict an upward break, which would again push XRP to multi-year highs. XRP is now $2.37, up 2.9% in 24 hours.

President-elect Donald Trump's choice of Paul Atkins to chair the SEC is encouraging. Atkins, a crypto-friendly CEO, may settle the SEC-Ripple legal dispute. A resolution like this would undoubtedly attract institutional and retail investment in XRP.

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