XRP’s (XRP) The price traded 28% above the $ 1.94 lows reached on Feb. 28, up to 6.5% in the last 24 hours. Entrepreneurs maintain the hope of rally life as Altcoin holds above a major support level.
XRP/USD Daily Chart. Source: Cointelegraph/Tradingview
Elliott Wave XRP review projects at $ 5.85
Dark Defender, an analyst of the crypto market, Highlighting That XRP trades above a major zone support for four hours hours, as shown in the chart below.
Note that this level represents the November rally’s 38.2% Fibonacci Retracement to Seven years high of $ 3.40. The Dark Defender believes it has marked “Wave 2 Bottom” and “We are waiting for the XRP to move to $ 2.60.”
According to the analyst, the main levels to watch on the downside are $ 2.33 and $ 2.22, which should be maintained. If this happens, the price of XRP will continue its wave structure in the expected fifth wave that targets $ 5.85. Such a transfer represents 132% obtained from the current price.
“XRP is ready for a high time.”
XRP/USD 4 hour chart. Source: Dark Defendant
Similar feelings were shared by popular analyst Egrag Crypto, who Says That XRP “prepares for the next big jump” as it combined above $ 2.30.
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According to the analyst, the XRP followed a similar classic fibonacci extension move in 2017, which violated the 161.8% extension level before taking a parabolic step to the 223.6% level of Fibonacci extension.
If history repeats itself, “it will put the XRP between $ 27 – $ 222, which aligns with the Fibonacci extension tool and 2017 cycle correlations.”
The analyst, however, sets the medium target for the XRP price between $ 8 and $ 13.
“The next main leg up of XRP can target $ 8.5 – $ 13 (fib 1.272 and fib 1.414).”
XRP/USD Weekly Chart. Source: Egrag Crypto
Increased onchain activity supports the upside of XRP
Data from Cointelegraph Markets Pro and Tradingview It is shown that The fall of the XRP price Last week the cryptocurrency was pushed to a three -month less than $ 1.94 in Feb. 28.
XRP investors took advantage of the lower level and accumulated more than the discount prices. Onchain data from Market Intelligence Firm Glassnode shows that XRP active addresses moved forward by a whopping 680% last week, jumping from 59,900 on February. 27 to 468,171 in March. 4.
XRP: Active addresses and transactions count. Source: Glass node
Similarly, the number of XRP transactions increased by 23% at the same time, the signing of growing network use.
Such a spike in network activity often indicates the growing interest of the investor and may be an early signal of a potential reversal of bullish.
Famous analyst Brett also Points That whale activity rose to the tandem with increasing onchain activity as large investors have been taking over 1 billion XRP tokens over the past 24 hours.
🚨Kaabooooooooooooooooooo
Whale activity to $ XRP The market has moved forward, with about 1 billion coins purchased in the last 24 hours. The sun -active addresses also sparked, exceeding 135,000 on March 4, which signed a growing interest in Altcoin. pic.twitter.com/bqejff5dnc
– Brett (@brett_crypto_x) March 4, 2025
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
