- XRP has completed wave A and is now targeting the $2.55 resistance in the next upward move.
- Analyst predicts XRP could hit $3.3333 after wave B builds and wave C confirms the breakout.
- Support at $2.35 and $2.22 may help XRP hold ground if bearish pressure begins to build.
XRP is believed to be preparing for a large rise after correcting a major trend. Dark Defender reported in an X post on Friday that the A wave pattern is complete on the 4-hour chart. He believes that XRP could start its next phase of rising in the near future
The analyst mentioned that XRP’s price advanced to $2.59 and then declined to $2.36 as predicted earlier. He pointed out that the outcome matched exactly what would be expected from wave A in a three-wave pattern.
These changes in the market are expected to take the price to around $2.55 in the near future. If wave B is executed well, a new wave, C, could be undertaken, leading to the target of $3.3333. The token is reaching a new high that points towards a major level of progress.
Critical Zones Define XRP’s Path
According to the analyst, two significant technical supports are at $2.3502 and $2.2222. These areas could help reduce risks if the market goes down for a period. On another note, $2.58 should offer some resistance, while analysts anticipate that the key goal of XRP is to surpass $3.3333.
Traders and investors are attentive to these levels since the analyst has accurately predicted outcomes before. The market is awaiting the $2.55 area with the hope that it will prove the start of an improvement.
The 4-hour chart indicates strength, as the price has hit higher lows and buyers are staying firm. If XRP overcomes the resistance at $2.58, it might indicate that the next rally is underway, and the price could reach new heights.
Related: XRP Case Setback: Ripple-SEC Joint Motion Fails to Clear Court’s Procedural Bar
The price of XRP at the time of writing is $2.42, down by 1.65% from yesterday. Since the price moved back a little, traders are waiting to see more signals on both the short- and long-term sides. With a 24-hour traded volume of $5.39 billion, XRP experienced a 30.61% hike over its previous level.
Although no outcome is guaranteed, wave-based strategies offer a consistent perspective based on the technical structure. Besides, the current market structure makes way for a bullish trend, especially when support and resistance levels are crossed.
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