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XRP is currently up by more than 3% and is trading at $2.06 at the time of writing. According to analysts, XRP is showing signs of short-term strength after holding a key Fibonacci support zone between $1.89 and $1.99. Following this bounce, the price is now moving towards a resistance area between $2.15 and $2.17.
This upward movement appears to be part of a corrective ABC structure, with the current leg — the C-wave — expected to complete a five-wave pattern. If this pattern plays out, XRP could reach the 100% Fibonacci extension level, aligning with historical swing highs and the 61.8% retracement level from previous moves.
This resistance zone is important. If XRP is still in a broader wave 4 correction, the price should not break decisively above $2.16–$2.17. While a temporary move above is possible, any sustained rally beyond $2.59 would challenge the current corrective outlook.
As long as the move remains a three-wave structure, it is likely a temporary rally within a larger corrective pattern. Traders should watch for reactions around the $2.15–$2.17 zone for clues about the next move.
The $1.89–$1.99 area remains key support in the short term. As long as this level holds, the current upside momentum could continue.