- XRP completes ABC correction, confirming bullish Wave 2 formation.
- RSI and MACD indicate renewed momentum, supporting a potential breakout.
- XRP must hold above $2.60 to target $3.62 in the coming weeks.
XRP has completed an ABC correction pattern, setting the stage for a potential breakout. After peaking at $2.90 on December 3, the cryptocurrency retraced to $2.16 in Wave A, briefly rebounded to $2.65 in Wave B, and dipped below $2.00 in Wave C, completing the correction phase.
Technical signals indicate Wave 2 is now forming, a typical move after an ABC retracement. XRP has broken out of a descending parallel channel, reclaiming key price levels. If buying momentum holds, the price could push toward $3.62, aligning with Fibonacci extension targets and historical resistance levels.
Related: Bitcoin & Altcoin Price Trends: What’s Next for XRP, ETH, SOL, and JUP?
Technical Indicators Suggest a Bullish Reversal
Trading volume has increased, pointing to renewed interest. The Relative Strength Index (RSI) has rebounded from oversold conditions, moving toward a neutral-to-bullish zone. A climb above 50 could further validate upside potential.
Related: XRP Price Recovers After Monday’s Dip, Whales Buying Big
The 4-hour Bollinger Bands indicate rising price volatility. XRP recently tested the lower band and rebounded, while the 20-period EMA at $3.08 remains a key short-term resistance level.
The MACD has crossed above the signal line, suggesting bullish momentum. However, the histogram remains flat, signaling the need for stronger buying pressure to confirm the move. With XRP now above the $2.60 resistance, analysts are watching $3.45–$3.62 as the next price targets.
Can XRP Reach $3.62?
For XRP to sustain its rally, it must break the descending trendline resistance seen on the daily chart. A close above $3.20 could shift market sentiment, setting the stage for a run toward $3.45 and $3.62 in the near term. However, if resistance between $3.00–$3.10 holds, XRP may consolidate within the $2.80–$3.00 range before another breakout attempt.
Key Support Levels to Watch:
- $2.99 – 100-day EMA
- $2.77 – 200-day EMA
- $2.60 – Psychological support
Failure to hold these levels could push XRP back to $2.50–$2.60 before a stronger move upward.
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