The XRP price has recorded a slight decrease today and is down more than 1% at the time of writing. According to analysts, XRP shows early signs of a bullish turnaround and he also broke over a high relative force index (RSI). According to analyst Josh of Crypto World, could mean the end of the downward trend. In addition, if Bitcoin, Ethereum and other altcoins also continue to increase, XRP could take a bigger step.
Significant price target XRP:
XRP faces resistance between $ 2.45 and $ 2.46, a significant level in a downward price channel. Although there was an attempt to unravel this resistance, a confirmed break has not yet occurred. Until it happens, short -term resistance should hold.
On the support side, XRP could find short -term purchase interest between $ 2.31 and $ 2.33. Below, an additional support is nearly $ 2.17, and an even stronger support is expected between $ 2.05 and $ 2.10 if prices are still falling.
Analysis of XRP Elliott waves
A key model visible on the graph is a triangle that formed after the 2017-2018 peak. This triangle probably ended with an upward escape, starting a fifth wave that pushed XRP much higher – an aggressive movement that aligns the way these models generally behave.
XRP has formed what looks like a rally of five waves of its lower April 7, potentially completing the first wave of a new upward trend. The price recently reached around $ 2.46, which corresponds to projections. Although another push around $ 2.56 or even $ 2.68 is possible, there is no confirmation that the wave has exceeded. If the price falls below $ 2.26, it could point out the start of a corrective wave (wave 2).
