XRP is nearing a critical breakout as it holds key support at $3.33, which could trigger a bullish push towards $4.39 and $5.85.
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XRP bounced from strong support and may rally fast if it breaks $3.33, with $4.39 and $5.85 as near-term targets.
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RSI and momentum readings hint XRP could shift from a long correction to a bullish wave if buyers keep control.
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Clearing $3.33 may confirm a new cycle, attracting strong investor interest and pushing XRP toward higher resistance levels.
XRP is on the verge of a breakout, with key support at $3.33 and potential targets of $4.39 and $5.85, making it a critical moment for investors.
What is XRP’s Current Price Action?
XRP’s recent rebound from a key support level has placed the cryptocurrency at a decisive turning point for its next move. On August 7, the asset staged a significant bounce after hitting crucial supports near $0.3333 and $0.3642.
How Could XRP Break Above $3.33?
Crypto analyst Dark Defender noted that breaking above $3.33 could trigger a rapid climb toward $4.39 and $5.85. Until that breakout, XRP may consolidate toward $3.05, creating a tight trading range before any explosive move.
The latest price action follows months of complex corrections outlined by detailed Elliott Wave analysis. The chart shows XRP completed a five-wave decline from previous highs, touching the lower boundary of a critical support zone before reversing. This zone, marked as point (A) in the analysis, now serves as a key foundation for bullish momentum.
Technical Indicators Signal Momentum Shift
Moreover, multiple technical indicators suggest growing optimism. The Relative Strength Index (RSI) has dipped into oversold territory several times, forming potential bullish divergence patterns. Historically, such setups have preceded notable recoveries in cryptocurrency markets.
Source: Dark Defender (X)
Additionally, momentum readings indicate XRP may have entered an “expected move zone,” where upward momentum could accelerate if buyers hold control. This shift hints at the possible start of a new impulse wave, signaling a transition from the recent “dark” corrective phase into a more constructive environment.
However, the asset still faces layered resistance zones. Clearing $3.33 remains the primary trigger for a broader bullish run. Above this level, the Elliott Wave structure points toward higher targets, with $4.39 and $5.85 in view over the short term.
Potential for a Bullish Cycle
Besides the wave count, the RSI’s bottoming pattern strengthens the case for sustained upside. If XRP maintains current momentum and breaks its immediate ceiling, it could confirm the completion of the corrective sequence.
As a result, this would probably pave the way for a new bullish cycle and spark fresh investor interest. If the breakthrough is confirmed, there may be strong buying pressure, which would drive XRP toward its next resistance levels.
Key Takeaways
- XRP is at a critical support level of $3.33: A breakout could lead to significant price increases.
- Technical indicators show bullish potential: RSI patterns indicate a possible recovery.
- Investor interest may surge: A confirmed breakout could attract more buyers.
Conclusion
XRP is on the brink of a significant price movement, with key support at $3.33 and potential targets of $4.39 and $5.85. As technical indicators suggest a bullish shift, investors should closely monitor this cryptocurrency for potential opportunities.
