Tldr:
- XRP remains within a range between $1.22 and $1.55, with no confirmed breakout on the higher time frame charts.
- A short-term wave B rally towards $1.78-$2.87 is possible, but it will not confirm the new uptrend for XRP.
- Analysts warn that a lower wave C could push XRP to between $0.98 and $0.48 if the structure holds.
- Highly leveraged long positions face the risk of liquidation if XRP sees a slight decline from current price levels.
XRP It continues To trade within a well-defined range where analysts closely monitor the price structure. The cryptocurrency has shown limited momentum compared to Bitcoin, which has already posted stronger rises in recent sessions.
Market observers point out that the current movement appears to be corrective rather than impulsive. As long as XRP remains sandwiched between key levels, the broader bearish outlook remains intact for traders monitoring the charts.
XRP is still stuck between the support and resistance of $1.22 and $1.55
XRP was unable to break out of its local range between $1.22 and $1.55. According to MCO Global Español, the structure on higher time frames has not changed much. The move still looks corrective, consistent with the broader ABC pattern.
The ABC structure is a common corrective wave sequence that is followed Elliot wave analysis. It involves two bearish legs separated by a temporary counter rise. Analysts who follow this framework suggest that XRP may still be in its intermediate stage.
While a short-term rise towards the $1.78 to $2.87 resistance area is still possible, this move would still fit within the corrective wave B. This result will not confirm the new uptrend for XRP. Instead, it would pave the way for a deeper decline in wave C.
Weak momentum and leverage risks increase downside pressure
Momentum remains our primary concern XRP bulls At this point. MCO Global Español noted that Bitcoin has already made stronger B-wave highs, while XRP is lagging behind. This divergence raises questions about XRP’s strength in the short term compared to the broader market.
A potential decline in wave C could push XRP to between $0.98 and $0.48, based on the current corrective count.
This would represent a significant move below current levels. Traders are watching closely to see if the range will hold or break in either direction.
Adding to the concern, analyst CW noted that a further slight decline in XRP could lead to the liquidation of most high-leverage long positions.
This creates additional downward pressure since it was imposed Liquidation Tend to accelerate price declines. The concentration of leveraged buy trades near current levels makes the $1.22 support area particularly sensitive.
If liquidations are triggered below this level, the cascading effect could push the price towards the lower end of the expected wave C target. However, the range between $1.22 and $1.55 has remained stable so far.
Until there is a clear breakout in either direction, the corrective structure remains the dominant framework within which analysts operate.
