If you've been following XRP recently, you must have felt it. The price fluctuates but fails to really change. One day it jumps to $1.45, and the next day it falls back to $1.35, then repeats the process.
This price action is undoubtedly one of the most boring in the entire crypto market. XRP has been hovering in this narrow range for weeks, and traders are tired of seeing the same price levels over and over again.
XRP Price Analysis
Currently, we have experienced 34 days of the fourth wave consolidation. It's indeed a long time to watch a coin trade sideways. Market volatility has decreased significantly, and the market seems to be in a standstill, which it actually is.
However, it is worth noting that this is not surprising. She sees it as a normal phenomenon, calling it a classic fourth wave behavior. Prices need time to breathe in order to prepare for the next major move.
XRP Chart Analysis
Key price levels have been clearly marked. Below, the support level is around $0.87. This area coincides with the 0.786 Fibonacci retracement level. From the chart, it can be seen that if selling pressure returns, the wave structure points to this range. This is the last major support for further price declines.
Above, there is the resistance level of $1.65. This level has been maintained for weeks. Whenever XRP tries to break through, sellers appear. The chart shows this price level as a solid ceiling. If it can break through cleanly, it means the fourth wave is over and the fifth wave begins.
Please pay attention to the numbers on the left side of the chart. The 0.618 level at $1.63 is an important position, basically coinciding with the $1.65 resistance zone. XRP tested this area and quickly fell back.
The 0.5 level at $1.49 is the area where the price is currently hovering. This is considered a no-man's land, not enough to break through upwards, nor enough to fall sharply.
The 0.786 level below at $0.86 is consistent with her support zone. This is the dividing line. If XRP falls to this point, buyers may intervene strongly.
The wave markings on the chart show that we are still in the adjustment phase. The markings of wave B and wave 3 help to depict the history of the price and its possible future direction.
Until XRP touches $0.87 or breaks through $1.65, the message conveyed by this chart remains the same: continue sideways, continue boring, continue waiting.
According to her analysis, the market needs to take one of the following two actions before the outlook changes.
The first option. XRP falls to the lower support zone close to $0.87. This will provide a new entry opportunity for buyers.
The second option. The price breaks through and stays above the $1.65 resistance level. This will mark the end of the consolidation, and the upward space will be opened.
Before either of these happens, we are still stuck in the same boring structure, continuing sideways.
Implications for XRP Holders
If you hold XRP now, you may feel frustrated. This is understandable. Watching this price action is even more boring than watching paint dry.
To sum up - if XRP falls to $0.87, that would be a strong buying area. If it breaks through $1.65, that would be a signal that your next upward phase has begun.