XRP currently rises by more than 3 % and is traded at $ 2.06 at the time of writing this report. According to analysts, XRP offers signs of short -term strength after keeping the Vibonacci major support zone between $ 1.89 and $ 1.99. After this apostasy, the price is now moving towards a resistance area ranging between $ 2.15 and $ 2.17.
This upward movement seems part of the ABC corrective structure, where the current leg-wave leg is expected to complete a pattern of five waves. If this style is turned on, XRP can reach a 100 % Fibonacci extension level, in line with the highest historical oscillation levels and 61.8 % of the previous movements.
This resistance area is important. If the XRP is still in a 4 wider wave correction, the price should not be decisively than $ 2.16 – 2.17 dollars. While the temporary step above is possible, any continuous gathering exceeds $ 2.59 will challenge the current corrective view.
As long as this step remains a three -wave structure, there is likely to have a temporary gathering within a larger correction pattern. Merchants should monitor reactions around the $ 2.15 – $ 2.17 to get evidence about the next step.
The $ 1.89 – $ 1.99 remains a major support in the short term. As long as this level carries, the current upward momentum can continue.
