Looking at previous cycles on the 5-day candlestick timeframe chart, particularly during 2017 and 2021, showed that similar setups came before massive upward surges in XRP’s price. The analyst’s chart displays a repeating structure of five-wave patterns, each representing major bullish impulses in the token’s history.
The chart also reflects the distinct cyclical rhythm of XRP’s price behavior over the years. Each major impulsive phase (waves 1, 3, and 5) has always been followed by smaller corrective waves (2 and 4), a structure that continues to repeat with precision.
The overlapping bands in cyan and pink, representing exponential moving averages, now point to XRP consolidating within a strong support region around $2.20, which indicates that the fourth impulse wave is coming to an end.
The visual projection marks potential Fibonacci extensions of 1.272, 1.414, 1.618, and 2.618 at $4.789, $5.515, $6.755, and $18.259 as possible long-term targets once the fifth wave takes hold. These levels may act as resistance points in the impending bull phase because they resemble the wave geometry that drove XRP’s earlier rallies in 2017 and 2021.
At the time of writing, XRP is trading at $2.27, down by 1.6% and 9.2% in the past 24 hours and seven days, respectively.
Featured image from Unsplash, chart from TradingView
