XRP is currently trading above its 21-day Exponential Moving Average (EMA), suggesting underlying buyer presence despite comparatively low trading volume levels. This stability above the key moving average is viewed by chart analysts as a preliminary signal of potential upward momentum.
The completion of an ABC corrective wave pattern has been identified, establishing a Wave 4 low near $1.60. This technical milestone potentially sets the stage for a subsequent Wave 5 rally. Applying Elliott Wave theory frameworks point towards price targets for this potential Wave 5 move ranging between $4.00 and $4.50. Alternative technical projection methods suggest a significantly higher target could potentially reach $11.00.
Sustaining any upward trajectory will critically depend on a marked increase in trading volume; the current low-volume environment keeps XRP susceptible to range-bound action and renewed selling pressure. The path upward faces significant resistance at $3.68, while robust support levels are currently situated at $3.15 and the earlier low of $1.60, which will be pivotal for determining near-term price direction.