XRP Price Decreases 21% As Ripple Ledger Block Production Comes To A Halt

Currently, XRP is in wave (ii) of a potential bullish impulse, retesting key support around $2.32. If it holds, wave (iii) should see an increase in volume and momentum, confirming a short-term uptrend. However, if XRP fails to break above the descending trendline, the recovery structure remains weak, and another retest of $1.95 could occur before a stronger bounce.

RSI on the 1-hour chart is recovering from oversold conditions, indicating a possible momentum shift. However, a lack of strong buying pressure could lead to sideways consolidation, delaying the expected upside move. Traders should watch for a breakout confirmation above $2.80, as it would strengthen the case for a rally toward $3.86 and beyond.

A failure to hold $2.32 would invalidate the bullish scenario, potentially leading to a lower low near $1.95, where XRP previously found support. The overall outlook remains tentatively bullish, but confirmation is needed through volume and price action above key resistance zones.

Key Levels to Watch

• Immediate Resistance: $2.55 (0.236 Fibonacci retracement)
• Key Resistance: $3.08 (0.618 Fibonacci retracement)
• Major Bullish Target: $4.23–$4.49 (Wave (v) Fibonacci extensions)
• Immediate Support: $2.32 (trendline support)
• Critical Support: $1.95 (previous swing low)