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The crypto market is brimming with excitement as we approach a historic moment—Donald Trump’s inauguration less than 48 hours away. With Solana reaching new all-time highs and XRP making gains, there’s a lot of bullish momemtum.
XRP continues to consolidate just below its all-time high, which isn’t surprising as it may take some time before the price breaks and sustains above this level. The key support levels for XRP remain defined between $2.52 and $2.94, and these levels are still valid. At the moment, XRP is experiencing a pullback, which is a natural part of any price movement and could present an opportunity for future growth.
Key Support Levels:
At the time of writing, XRP is trading at $3.21 and is down by more than one percent in the last 24 hours. However, the altcoin has gained an impressive 25 percent in the last week. The retracement levels are expected to reach between the 38.2% and 78.6% Fibonacci levels, with support areas at $2.94, $2.81, $2.68, and $2.52.
Possible Outcomes:
In terms of possible outcomes, if Wave A extends slightly lower, it would still be part of a healthy three-wave move down. A bounce from these levels would likely be corrective in nature, leading to another dip before a potential rally.
Looking ahead, if XRP breaks above $3.39 or $3.40, we could see prices move toward the next major Fibonacci level, possibly reaching $4.19 or even $5. However, if the price falls below $2.52, it would invalidate the bullish structure.
Conclusion:
The latest market data shows XRP holding a strong position with a market cap of over $180 billion. Despite a recent 7% dip, many see this as a buying opportunity for long-term gains. As the inauguration draws closer and Trump’s influence in the crypto space increases, some experts predict significant price movements ahead.