coinpedia 2025-05-05 04:12:11

XRP Price Prediction, Elliot Wave Analysis And More For May 2025

The post XRP Price Prediction, Elliot Wave Analysis And More For May 2025 appeared first on Coinpedia Fintech News Ripple’s native token, XRP, has been moving sideways in recent days, with analysts watching closely for signs of a breakout or breakdown. While the broader crypto market is experiencing some selling pressure, XRP has managed to hold its key support levels — but its future direction remains uncertain. Short-term Price Analysis On the short-term chart, XRP appears to have formed a low around April 7th. However, all subsequent rallies from that point have been corrective, featuring messy, overlapping, three-wave moves rather than clean impulse waves. Support at $2.11 has held so far, with additional support at $2.08 and $2.14. Price briefly broke a minor Fibonacci support recently but recovered quickly without sustaining losses. The market continues to form higher highs and higher lows — a positive sign amid uncertainty. There’s a tentative Elliott Wave scenario where XRP might be forming a diagonal pattern to the upside, although it’s not a particularly reliable setup given the overlapping, jagged structure. A decisive breakout above the descending trendline from the April 30th low (around $2.12) could signal the start of an internal third wave higher. Key resistance levels to watch include $2.33 and $2.46. A clean break of these could spark fresh bullish momentum. Ripple Unlocks 1 Billion XRP: What Does It Mean? Ripple recently unlocked 1 billion XRP from escrow. While increased supply traditionally pressures price lower, there’s nuance to consider. The market reaction depends on how Ripple deploys these tokens. If used for strategic acquisitions — such as the rumored bid for Circle — it could be bullish for XRP, injecting real utility and revenue into the ecosystem.