Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
XRP XRP rebounded to US$1.60, and bullish divergences signal a shift in momentum.
XRP recently rebounded from around US$1 to around US$1.60, thanks to technical signals identified by independent market analyst Egrag Crypto. The analyst is known for his in-depth chart analysis of digital assets. Egrag Crypto pointed out that the market has seen a bullish divergence, highlighting the fact that the XRP's Relative Strength Index (RSI) has reached a higher low point and has entered a recovery phase.
Technical analysis points to key levels
According to Egrag Crypto analysis, price movements suggest that bullish deviations may trigger a shift in momentum and drive further price expansion. As XRP approaches key resistance areas, market participants are paying close attention to subsequent levels. According to Egrag Crypto's chart, XRP is currently near $1.34, while direct resistance is between $1.58 and $1.60.
The analyst pointed out that breaking through the resistance range of US$1.58 to US$1.60 is crucial to continuing the recovery trend that started near US$1. If XRP can break through this area, the next major resistance level will be US$1.96, and a successful break through this position will further support Egrag Crypto's "third wave" market view.
Applications of Elliott Wave Theory
Egrag Crypto incorporated Elliott Wave Theory into his analysis, marking recent lows on the chart as second waves, and predicting that the next phase (third wave) will drive prices up significantly.
Mini Dictionary
Elliott Wave Theory: A technical analysis principle that holds that prices move in repeating cycles (often marked as waves), helping traders identify possible trends and reversals.
XRP showed a bullish divergence as prices fell, but the RSI continued to form higher lows while selling pressure weakened, indicating that seller momentum was weakening and a potential reversal was taking place.
Egrag Crypto emphasized on social media that the RSI provided preliminary bullish signals before prices showed significant fluctuations. Since then, XRP prices have rebounded from the divergence zone and gradually approached the above resistance zone.
Key resistance and long-term target
In terms of price levels, US$1.58 to US$1.60 is the first key resistance area, US$1.96 is the main resistance level to confirm the third wave, US$3.00 to 3.60 corresponds to the high point of the first wave of the previous wave and is regarded as a key milestone, while US$3.65 is the historical high. Higher Fibonacci expansion targets are at $6.42,$13.38,$22.55,$29.63 and $43.83, respectively, which are within the long-term forecast range derived from Elliott Wave Theory.
Egrag Crypto also mentioned that if XRP can hold above $3.60, it may see a larger increase-even a 20-fold increase, highlighting the strategic importance of this resistance in its overall outlook.
The role of RSI in the current XRP trend
RSI has always been at the heart of Egrag Crypto's analysis. He pointed out that "RSI signals first" and the latest price increases follow this early technical indicator. Whether each resistance area can be broken through in turn will determine whether the expected third wave expansion is achieved.
A rise to US$1.58 to US$1.60 is the first major test, while a breakthrough of US$1.96 confirms the start of a third wave. Successful breakthrough of the $3 to $3.60 target will open the door to higher Fibonacci expansion goals.
The current series of trends, starting with bullish divergences and a shift in market momentum, is being closely watched by analysts and traders, all of whom are waiting for continued gains or a reversal at key resistance levels.
