- XRP displays a nearing conclusion of its consolidation stage before potentially breaking out towards Wave 5.
- The critical resistance levels exist at $2.22 and $2.75 but the main support levels are located at $1.88 and $1.60.
- The price targets from Fibonacci projections go up to $3.82 while price discovery might reach $5.00 if market momentum increases.
Overall upside momentum in the crypto market slowed in April, amid weakening risk appetite tied to rising global tariff tensions under U.S. President Donald Trump’s trade stance. Despite this, speculation around a potential XRP spot ETF and expectations that the SEC may drop its case against Ripple have renewed interest in XRP. Currently trading near $2.13 with a 3.23% gain in the past 24 hours, XRP is drawing attention from traders watching for a confirmed breakout.
XRP Eyes Breakout Amid Tightening Structure
According to analysis from DefendDark, XRP appears to be nearing the end of its consolidation phase. Market observers have highlighted a tightening price structure forming on the weekly timeframe, which could signal an imminent breakout.
As prices begin to converge beneath a persistent resistance line, the anticipation among analysts is mounting. This phase, commonly recognized as part of a broader corrective wave structure, may soon give way to what technical analysts describe as a potential Wave 5 in the Elliott Wave theory—a stage often associated with strong bullish momentum.
XRP Consolidation Tightens Near Critical Levels
The XRP/USD weekly chart indicates a gradually tightening consolidation range. The resistance trendline, extending from previous highs, has remained a notable barrier. Resistance levels are observed near $2.222 and $2.75, with the latter aligning with Fibonacci extension zones that could serve as targets should bullish momentum follow through.
Support zones have been identified at $1.88 and $1.60, levels that have historically provided price stability during corrective movements. A minor pullback to these regions remains a possibility before any significant upward move. Analysts note that this could form part of a healthy retracement phase within a bullish continuation, especially if XRP retests these zones before attempting a move past resistance.
Fibonacci Targets Highlight Breakout Potential
Technical projections place further Fibonacci targets near $2.75 and higher at $3.82, with a theoretical extension beyond $5.00 under strong buying conditions. While such scenarios remain speculative, the chart suggests that if resistance is decisively broken, XRP may enter a rapid price discovery phase.
Though broader crypto market sentiment remains a factor, XRP’s structural setup reflects a possible shift from corrective to impulsive movement. As consolidation tightens, the next few weekly candles could determine whether XRP confirms its transition into a bullish fifth wave.
