XRP price prediction for January 1 2025
XRP's price action is relatively unchanged, with no major updates in the near term. However, technical analysis suggests a continued reaction at the lower bounds of a potential triangle pattern. Here's the current state of play and what to look for moving forward. At the time of writing, XRP is up more than five percent and is trading at $2.12.
Key reaction on the lower border
XRP has now shown a mild reaction to the trend line that has been touched three times. While this trend line is important, it does not yet confirm that a clear pattern is complete. The current move may be part of a deeper wave in a larger Elliott Wave triangle.
Current view: Lateral triangulation in progress
The analysis in the last few weeks has not changed much. XRP appears to be in the midst of forming wave 4, where the price action may follow a triangle structure. Because triangles are volatile patterns that can change unexpectedly, it's important to keep an eye on key levels for changes in market structure.
Important steps to consider: resistance and support
Support levels: $1.95 and $1.90 (key sideways levels) Resistance levels: $2.42 (key level to watch for potential decline)
The $2.42 level is particularly relevant as it aligns with the C-wave target. Historical price patterns suggest that the C-wave often reflects the length of the A-wave, with the 61.8% extension level playing an important role.
What to expect next
XRP may face significant resistance if it reaches the $2.42-$2.45 range. Additionally, a trend line in this area may prevent further losses. While there is no guarantee that XRP will reach this zone, it is a key area to watch.
Failure at this level indicates that the structure is nearing completion, which may result in an upward fracture. On the other hand, a sudden pullback could shift the focus to a pessimistic view, with support levels between $1.39 and $1.80 becoming more relevant.
