$XRP analyse ‼️
XRP
1.87
-2.54%
Two Possible Paths XRP Could Take to New ATH
$XRP A skilled financial expert has shared two possible immediate paths XRP could take toward reaching a new all-time high.
Notably, XRP has bounced back after the drop to $2.70 on Sept. 1. It now trades at $3.03, about 12% higher than its early-month low amid a broader market rebound and improving macroeconomic conditions. Still, its hold above $3 looks fragile, with the next direction uncertain.
✨XRP Price Action Within Triangle Formation
In this position, veteran trader Matthew Dixon has presented a chart that shows two possible short-term paths that could drive XRP to new all-time highs. His analysis focuses on a contracting Elliott Wave triangle that has been unfolding since July, with price action now testing the triangle’s upper resistance.
The pattern began in mid-July when XRP reached the $3.66 peak before dropping to wave (A) at $2.72 in early August. It then rallied into mid-August to form wave (B) at $3.38 but stalled against the descending upper trendline.
✨Two Possible Paths for XRP to New ATH
Notably, Dixon highlights two scenarios. In the first, XRP could break above the upper trendline immediately, skipping the need for a drop to wave (E) and surging straight toward his chart target of about $3.90. From the current price, that move would represent almost 30% upside.
Meanwhile, in the second scenario, XRP may reject the trendline and drop to complete wave (E) around the critical support level of $2.655. This pullback would set up a much larger breakout, with a potential 47% rally from the $2.65 area to the $3.90 target.
According to data from the chart, the possibility of either direction playing out is equally high. However, whichever one materializes, Dixon expects XRP to eventually break out of the triangle to a new all-time high of $3.90.
Importantly, XRP’s relative strength index sits at 57, a neutral zone that gives XRP room to either dip or run higher. The $3.05 to $3.15 now serves as the immediate resistance to clear, while $2.655 acts as the must-hold support.
✨Supporting Views
Interestingly, other analysts also hold this view. For instance, market watcher EGRAG Crypto recently described the current XRP structure as a symmetrical triangle with an equal chance of breaking in either direction.
He believes a close above the $3.077 to $3.13 range on the three-day chart, along with reclaiming the 21-period simple moving average, would lock in the bullish case. He also pointed to $3.30 as the level that would open the door to new all-time highs.
However, on the downside, he warned that a close below $2.77 would tilt control toward the bears, and a breakdown under $2.55 would mark a serious technical failure.
In a separate analysis, EGRAG also narrowed in on the four-hour chart, where he sees an ascending triangle holding as long as XRP stays above $2.973. His measured target for that formation is $3.12, with backup support at $2.957, $2.912, and a critical floor at $ 2.85.
Meanwhile, analyst Casi Trades confirmed that XRP had broken out of its consolidation. She sees $3.00 as a pivot level that now acts as support, with near-term resistance at $3.08 and $3.27. According to her, a move above $3.25 could lead to a rally toward $4.50, with $3.66 serving as a likely retest point along the way.
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Notably, XRP has bounced back after the drop to $2.70 on Sept. 1. It now trades at $3.03, about 12% higher than its early-month low amid a broader market rebound and improving macroeconomic conditions. Still, its hold above $3 looks fragile, with the next direction uncertain.
✨XRP Price Action Within Triangle Formation
In this position, veteran trader Matthew Dixon has presented a chart that shows two possible short-term paths that could drive XRP to new all-time highs. His analysis focuses on a contracting Elliott Wave triangle that has been unfolding since July, with price action now testing the triangle’s upper resistance.
The pattern began in mid-July when XRP reached the $3.66 peak before dropping to wave (A) at $2.72 in early August. It then rallied into mid-August to form wave (B) at $3.38 but stalled against the descending upper trendline.
✨Two Possible Paths for XRP to New ATH
Notably, Dixon highlights two scenarios. In the first, XRP could break above the upper trendline immediately, skipping the need for a drop to wave (E) and surging straight toward his chart target of about $3.90. From the current price, that move would represent almost 30% upside.
Meanwhile, in the second scenario, XRP may reject the trendline and drop to complete wave (E) around the critical support level of $2.655. This pullback would set up a much larger breakout, with a potential 47% rally from the $2.65 area to the $3.90 target.
According to data from the chart, the possibility of either direction playing out is equally high. However, whichever one materializes, Dixon expects XRP to eventually break out of the triangle to a new all-time high of $3.90.
Importantly, XRP’s relative strength index sits at 57, a neutral zone that gives XRP room to either dip or run higher. The $3.05 to $3.15 now serves as the immediate resistance to clear, while $2.655 acts as the must-hold support.
✨Supporting Views
Interestingly, other analysts also hold this view. For instance, market watcher EGRAG Crypto recently described the current XRP structure as a symmetrical triangle with an equal chance of breaking in either direction.
He believes a close above the $3.077 to $3.13 range on the three-day chart, along with reclaiming the 21-period simple moving average, would lock in the bullish case. He also pointed to $3.30 as the level that would open the door to new all-time highs.
However, on the downside, he warned that a close below $2.77 would tilt control toward the bears, and a breakdown under $2.55 would mark a serious technical failure.
In a separate analysis, EGRAG also narrowed in on the four-hour chart, where he sees an ascending triangle holding as long as XRP stays above $2.973. His measured target for that formation is $3.12, with backup support at $2.957, $2.912, and a critical floor at $ 2.85.
Meanwhile, analyst Casi Trades confirmed that XRP had broken out of its consolidation. She sees $3.00 as a pivot level that now acts as support, with near-term resistance at $3.08 and $3.27. According to her, a move above $3.25 could lead to a rally toward $4.50, with $3.66 serving as a likely retest point along the way.
🚀🚀🚀 FOLLOW BE_MASTER BUY_SMART 💰💰💰
Appreciate the work. 😍 Thank You. 👍 FOLLOW BeMaster BuySmart 🚀 TO FIND OUT MORE $$$$$ 🤩 BE MASTER BUY SMART 💰🤩
🚀🚀🚀 PLEASE CLICK FOLLOW BE MASTER BUY SMART - Thank You.
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