XRP is currently trading just above $2, but technical analysis suggests a more complex corrective pattern may be forming. According to an analysis shared by CasiTrades, XRP could see one more upward push before a potential downturn.
The analysis, based on a 1-hour chart, outlines a developing Elliott Wave sequence. It indicates that XRP might first rise above $2.2 in a Wave C surge before a correction below $2 becomes likely. This expected Wave C follows a recent pullback to around $2.03 over the past 48 hours, which formed a deeper-than-anticipated B wave retracement to the 0.618 Fibonacci level near $2.09—a move consistent with Elliott Wave theory.
With the B wave likely complete, focus shifts to the anticipated C wave advance. The primary target is the golden retracement zone near $2.26, with a possible extension to $2.28, where multiple Fibonacci levels converge. This area represents a significant resistance zone, marked by previous reaction highs. The C wave is expected to develop in five smaller subwaves, which should produce a bullish near-term momentum.
However, how XRP reacts as it approaches the $2.26 to $2.28 range will be crucial. A clear rejection there could signal the start of a larger Wave 3 decline. In that scenario, XRP could begin a sustained move lower, potentially targeting the macro support region around $1.65. Confirmation of this bearish path depends on the structure of the C subwaves and whether a decisive rejection occurs at the resistance zone.
Frequently Asked Questions
Of course Here is a list of FAQs about the topic XRPs Wave C Rally Is Approaching What Could Drive the Price Above 2 designed to be clear concise and helpful for a range of investors
Beginner Definition Questions
1 What is a Wave C Rally in simple terms
Its a concept from Elliott Wave Theory a technical analysis method It suggests that after a period of consolidation or a downward move a strong powerful upward price surge is likely to follow Proponents believe XRP is currently setting up for this major upward wave
2 Is this Wave C prediction a guarantee
No Elliott Wave Theory is an interpretive tool not a certainty Different analysts can count waves differently Its a framework for potential scenarios not a financial forecast you should rely on alone
3 What does Above 2 mean for XRPs history
XRPs alltime high was near 384 in January 2018 A move above 2 would be a significant recovery toward that peak representing a massive increase from its recent multiyear trading range
Catalyst Why Now Questions
4 What are the main things that could actually push XRP to 2
The primary catalysts are a combination of
Clear Regulatory Clarity A definitive positive resolution for Ripples remaining lawsuit with the SEC confirming XRPs status
Broader Crypto Bull Market A surge in Bitcoin and overall market sentiment lifting all major assets
Increased Utility Adoption Significant growth in Ripples OnDemand Liquidity and other realworld use cases for XRPs crossborder payment technology
Macroeconomic Factors A shift in monetary policy driving investment into riskier assets like crypto
5 How does the SEC lawsuit resolution impact the price
Legal uncertainty has been a huge overhang A final resolution would remove a major risk for institutions and exchanges potentially leading to relistings new institutional products and a surge of confidence from investors
6 Could it hit 2 without the lawsuit being fully over
Its possible