- XRP finalized a clear three-wave correction pattern from its $3.21 all-time high, reaching $2.60 in recent trading.
- The $2.37 level holds as immediate support, limiting further downside pressure within the ongoing correction.
- XRP continues to face resistance at $2.64 while broader structure targets the $1.75–$1.50 demand area below.
The last week has seen XRP experience a sharp decline and the price movement of the currency shows a total ABC corrective pattern after the last high. The cryptocurrency is currently trading at $2.60 with a seven-day downward change of 13.1%.
The correction, which began after the formation of the B wave near the $3.21 all-time high (ATH), has driven prices toward lower demand levels visible on higher time frames. Market data shows a continued reduction in bullish momentum, with XRP fluctuating within a 24-hour range of $2.37 to $2.64 as selling pressure increases across major exchanges.
Correction Structure Points Toward the Demand Zone
The ongoing decline has developed a clear three-wave structure. Wave A started the first wave downward then a minor turnaround at wave B. This was followed by the next decrease which was wave C, that was acutely bent towards the already established demand zone of between $1.75 and $1.50. This area converges with the 2021 high of about $1.96 forming a confluency area that can again present the market with an interest.
The structure reflects a complete retracement pattern often seen after extended bullish phases. Notably, each leg of the correction has produced lower highs, reinforcing the pattern’s completion near the lower support range.
XRP Holds Steady Between Tight Support and Resistance Range
Short-term trading shows $2.37 acting as the immediate support level, containing downward movement during the latest session. Buyers have remained active at this threshold, limiting further declines. On the upper side, resistance stands at $2.64, where recent price rejections have occurred. The narrow range highlights reduced volatility as the market digests the recent drop. Despite the strong weekly decline, XRP maintains moderate liquidity near these technical boundaries. The price remains positioned between the mid-level consolidation zone and the broader corrective low, leaving little room for sharp expansion at this stage.
Market Context and Broader Implications
Across major trading pairs, XRP trades near 0.00002263 BTC, reflecting a 5.6% increase relative to Bitcoin despite the USD decline. The move suggests cross-market differences in performance. Meanwhile, the broader chart shows a longer-term consolidation after the steep C-wave decline.
The structure’s completion near the demand zone places current price action within a historically reactive area. However, intraday volatility persists, keeping traders attentive to shifts in volume near the established support and resistance thresholds that continue to define the asset’s short-term range.
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