Ripple's XRP demonstrated impressive momentum, surging beyond $2.71 on December 17 following the highly anticipated launch of the RLUSD stablecoin. However, the rally faced a temporary pullback, with XRP currently trading around the $2.55 mark. Despite the slight dip, the market structure remains favorable, with strong support identified near $2.40.
Key Support and Resistance Levels
A micro support zone has emerged between $2.55 and $2.62, offering stability in the short term.
The third wave of the current rally appears to be unfolding, with an ideal target of $2.81 in sight. For this bullish trajectory to hold, XRP must maintain support above existing levels. A deeper pullback could still occur but would remain within the range of micro structures.
Bullish Momentum and Breakout Potential
The third wave's extension sets the stage for waves 4 and 5, which could drive XRP closer to retesting its all-time high. Although the price movement isn't as impulsive as previous rallies, the current support levels are holding strong, signaling sustained bullish sentiment.
Breakout Target: $3.80 in Sight?
According to Josh of Crypto World, XRP is showing robust support around the $2.00 mark, where prior resistance has now flipped to support. The price has successfully confirmed a bullish breakout from a bull flag pattern, and recent higher highs reinforce this trend.
The projected price target for this bull flag breakout stands at $3.80, representing a potential 40% to 60% increase from the breakout point. If support levels continue to hold and bullish momentum persists, XRP may be poised for a significant rally in the weeks ahead.
Conclusion
XRP's current market structure suggests an optimistic outlook, with the potential to reach $3.80 and beyond. Investors should monitor the $2.40 support level and the ongoing development of the third wave, as these will be critical indicators of the next significant move.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct thorough research before making investment decisions.
Would you like me to design a visual with highlighted keywords like “XRP Price Prediction,” “$3.80 Target,” or “Bullish Momentum”? Let me know!
