XRP Bulls Charge Toward $5—But Only If This Key Support Holds

XRP’s rally isn’t dead yet—despite the usual chorus of crypto skeptics rolling their eyes at ’utility token’ promises. The digital asset clings to a critical support level, setting the stage for a potential moonshot to $5 if buyers keep their footing.

The Line in the Sand

Traders are watching one price zone like hawks: a historical support level that’s acted as both launchpad and graveyard for XRP’s past rallies. Break below it, and the $5 dream evaporates faster than a DeFi rug pull.

Wall Street Meets Wild West

Meanwhile, institutional players quietly accumulate positions—because nothing says ’mature asset class’ like gambling on a coin still entangled in regulatory purgatory. The irony? XRP’s fate hinges on the same financial gatekeepers it was designed to disrupt.

Elliott Wave Maps Out XRP Price Path To $5

XForceGlobal, a Certified Elliott Wave analyst, recently shared a medium-timeframe Elliott Wave analysis of XRP, focusing on its price action and wave structure. According to the analyst, XRP remains on a bullish path, indicating a strong potential for upward movement toward the $5.4 target. 

The price chart shows that XRP is in the final stages of a complex corrective pattern and is poised to enter a powerful third-wave rally. The current wave structure indicates that XRP is forming a “1-2 scenario,” with the next Wave 3 expected to launch its price significantly higher. 

XForceGlobal has outlined a Fibonacci Retracement zone between the $2.00 and $1.80 range as a potential entry point, with price action showing resilience NEAR this area. The critical price level to watch for XRP is the regional low at $1.60, which acts as the most important support level that would determine the cryptocurrency’s next move. 

This support level is because if XRP’s price remains above it, its projected bullish scenario and current structure remain intact. On the other hand, if the price drops below it, the trend could shift bearish, potentially invalidating the bullish outlook. 

With $1.60 acting as a strong support foundation, XForceGlobal projects that XRP could soon surge past $3.20 and potentially reach $5.40 in the coming months. This would mark a new all-time high for XRP, representing a 40.63% increase from its current ATH of $3.84. 

$2.18 Flagged As Key Breakout Level For The Altcoin

Sharing a similar bullish forecast, Bitcoin Benny, a crypto analyst, has shared a technical analysis of XRP on the 1-hour time frame to map out its likely price trajectory. According to the analyst, XRP is showing signs of recovery after enduring a sharp market correction in late April.

The cryptocurrency had made a significant high of around $2.3 but underwent a dramatic drop, reportedly bottoming out at approximately $2.125, where buyers quickly stepped in to stabilize its price. This support level has since held strong, with the XRP price currently consolidating just below this point. 

Marked on the right side of the chart, the analyst has pinpointed a key resistance level at $2.18, labeling this level as a critical breakout point. Suppose the altcoin can decisively break and close above $2.18. In that case, Bitcoin Benny predicts that it could trigger what he calls a “send season,” which is a momentum-driven rally that could push XRP toward new levels to potentially retest its previous highs.