XRP is trading sideways near a resistance level, while waiting for an Elliott Wave analysis to confirm wave B. Read more details here
XRP continues trading within a narrow range, with no clear momentum in either direction. A recent post from More Crypto Online described the current price movement as "lifeless," indicating reduced volatility and declining trader confidence. The analysis is based on Elliott Wave theory, suggesting the market is awaiting the start of wave (B). This step is expected to determine whether XRP is preparing for a new uptrend or entering a deeper correction.
Elliott Wave scenarios are competing for control
The analysis presents two competing Elliott Wave scenarios, labeled the yellow and orange paths. The yellow scenario assumes XRP is preparing to complete an upward trend after a period of consolidation. In contrast, the orange scenario suggests the market remains within a corrective structure, potentially limiting near-term upside opportunities. The absence of wave (B) so far keeps both scenarios viable. As a result, traders favor caution over taking clear directional positions.
Key technical levels define the trading range
From a technical standpoint, resistance levels remain a critical factor in the XRP chart. The analysis highlights a resistance zone between $2.17 and $2.33, which aligns with common Fibonacci retracement levels in Elliott Wave analysis. These levels often serve as decision points during correction phases. On the downside, support near $1.96 remains intact, preventing a broader breakdown. The price positioning around the $2.00 level reflects a state of balance rather than a clear directional move.
Market behavior reflects hesitation
XRP's sideways movement aligns with declining trading volumes and weak follow-through from buyers or sellers. This behavior indicates that individual traders and short-term players are awaiting confirmation signals before committing capital. Unlike momentum-driven phases, the current structure favors patience over taking aggressive positions. In the short term, this environment can be described as neutral, with no clear dominance by bullish or bearish forces.
Historical context from previous XRP cycles
Similar consolidation phases appeared in previous XRP market cycles. After regulatory clarity following 2023, XRP experienced extended sideways phases before sharp directional moves. In several cases, stable support within low-volume ranges preceded upward waves with renewed momentum. However, history also shows that failure to hold support levels during these periods can lead to prolonged corrections. This makes the current support zone particularly significant from a risk perspective.
What traders are watching in the next phase
Looking ahead, the emergence of wave (B) remains the primary catalyst traders are monitoring. A decisive breakout above resistance levels would strengthen the bullish scenario and signal a return of demand. Conversely, a breakdown of support would increase the likelihood of the corrective path prevailing. Until a clear confirmation appears, XRP is likely to remain confined within a narrow trading range. The significance of this extends beyond short-term price action, reflecting the ongoing uncertainty that shapes the broader behavior of the cryptocurrency market.$XRP #StrategyBTCPurchase #USDemocraticPartyBlueVault $BTC