XRP could be on the brink of a major rally as technicals point to a bullish springboard setup.
Analyst GainMuse notes XRP’s ascending support and rising lows indicate strong upward momentum, signaling a potential breakout if key resistance holds.
Source: GainMuseXRP is currently trading at $1.39 per CoinGecko, hovering near key support at $1.33–$1.36.
Well, potential reclaim zones sit at $1.44–$1.46, with resistance at $1.62–$1.65. According to GainMuse, holding these supports could set the stage for a major breakout, signaling a mega bullish move for XRP.
XRP Eyes $15–$31 Surge: Elliott Wave Signals Potential Breakout
Adding to bullish sentiment, renowned analyst EGRAG CRYPTO highlights XRP’s Elliott Wave setup, projecting a potential surge to $15–$31. Key points:
- Wave 1: XRP soared by 814%, showing strong momentum and a textbook impulsive wave.
- Wave 2: The current pullback retraces 50–61.8% of Wave 1, staying within the macro channel with no invalidation yet.
- Wave 3: XRP must reclaim the Wave-1 high with a weekly close to trigger Wave 3 and momentum expansion. Until then, it remains in a corrective phase.
This Elliott Wave perspective underscores both XRP’s disciplined market structure and its high upside potential.
Source: EGRAG CRYPTOTherefore, XRP is at a pivotal consolidation stage, where holding upward support and reclaiming key resistance is essential for its next growth phase.
GainMuse highlights short-term technical cues, while EGRAG CRYPTO frames the potential rally within the Elliott Wave structure, offering a long-term market outlook.
In conclusion, if XRP reclaims its Wave-1 high and momentum builds, the bullish case could surge, attracting both retail and institutional interest.
Sitting at a pivotal point, the asset teeters between consolidation and a potential explosive breakout, fueling wild $1,300 price speculation amid BTC weakness.
Source: https://zycrypto.com/ripples-xrp-millionaire-addresses-back-31-xrp-price-projection/
