XRP Stalls Below Key Resistance, Setup Aligns For Elliott Wave Finish

XRP is experiencing hesitation after a recent rebound, facing difficulties surpassing key resistance levels. The price action aligns with an Elliott Wave pattern, suggesting the market may be in its final consolidation phase before a significant move.

Current Market Analysis

Following a sharp decline, XRP rebounded but is losing momentum, typical of a Wave 4 in Elliott Wave Theory.
Markets usually complete a Wave 5 move before starting a new uptrend; however, XRP hasn't shown enough strength to confirm the end of the dip.
The price is stalling around Wave 4 resistance. A strong recovery should have breached the $2.82 mark, which hasn't happened yet.
The market might need another downward wave to fully exhaust selling pressure and reset sentiment.

XRP

Inconsistent Market Data

Market data varies across exchanges, complicating accurate analysis. Each platform showed different lows during the recent crash.
On Binance USD, XRP dropped as low as $0.77, marking a 72% drop from local highs.
Key retracement levels are identified around $1.46 (0.618 Fib) and near $1.35, aligned with multiple technical factors.
Retesting these levels could trigger a reversal, potentially leading to an impulsive wave targeting the $6.50 to $10.00 range.

The recent crash might have shifted XRP's structure from a shallow Wave 4 correction to a broader Wave 2 retracement, possibly setting up for strong impulse waves.

XRP