Ripple’s XRP is currently trading in green and is up by more than three percent at the time of writing. The price is currently testing levels below $1.50 and is experiencing a slight correction today, but nothing major. In the meanwhile, Bitcoin has also dropped below the crucial $95k mark and is down by more than four percent.
Support Levels and Range
The key support range to watch is between $0.84 and $1.19, and currently, XRP is still above this zone, meaning there is still some space for potential downside. The price is consolidating just below critical resistance, and risk levels are high due to the recent movement from support into resistance.
If XRP dips back into the support zone, the risk decreases, and it could look for potential bullish signals. However, if the price drops below $0.84, we may see a larger correction or possibly invalidate the current bullish count. In this case, the focus will shift to identifying the next wave structure.
Tracking Wave Patterns
There are two primary wave counts the analysts are tracking: a bullish yellow triangle pattern and a potential blue wave count. Both are still valid as long as XRP holds above $0.38. If the price breaks below key levels, such as the $0.28 low from June, the bullish patterns will be invalidated. A break above $2 is needed for further clarity on the blue wave count.
Resistance and Next Steps
For now, the price is at a critical resistance point. It’s important to wait for confirmation before making major moves, as we are at the top of the current range. A break above $2 would mean further upside potential, but until then, the key focus should be on managing the risk-reward balance. The current correction is unclear, but the price action could form a triangle or continue consolidating before a breakout.