XRP Price Consolidation Nears End as Wave 5 Targets $5.85
XRP remains in consolidation after reaching a seven-year high in January 2025, experiencing a 40% decline. Current support is at $2, indicating a potential bottom and bounce-off point.
XRP Price Consolidation Analysis
Analyst Dark Defender suggests that the current consolidation phase may soon end. Key points include:
- The first wave, termed Impulsive Wave 1, could push XRP back to $3.
- A subsequent bearish second wave may drop the price to $2.2, setting up for a bullish third wave.
- Wave 3 targets a new all-time high around $5, surpassing the 2017 peak of $3.8.
- The fourth wave is expected to bring another downturn, potentially by 30%, returning to the $3 range.
- Wave 5 might drive XRP over $6, marking a significant increase from the previous lows.
Targets during this wave action include $3.75 and $58.85. Major supports are positioned at $1.88 and $1.63, with resistances at $2.22 and $2.30.
