XRP Price Prediction For January 18
XRP continues to hold below all-time highs and the market still shows upside potential. Overall expectations remain bullish, As shown in the possible five wave Elliott wave pattern Prices will be higher in the future. After completing the fourth wave of the triangle, XRP has been consolidating and there are still opportunities for further gains. As of this writing, XRP is trading at $3.21, down more than 2% in the past 24 hours.
Key Resistance and Support Levels
XRP currently faces resistance at $3.30. Price has been consolidating below this key point, setting the stage for a potential breakout. There was a minor 7% retracement, but in the volatile crypto world, that doesn’t matter, especially considering the previous 45% rally.
Support levels still need to be monitored, especially between $2.52 and $2.94. This range could serve as the basis for any pullback and potentially set the stage for further gains higher.
Market structure and pullback potential
While the possibility of a pullback remains, there is no clear evidence of a major top forming. The triangle pattern may still evolve and the market may continue to form higher highs. However, if any pullback occurs, it should be relatively small in magnitude.
The main failure point for the current bullish outlook lies at the $2.32-2.33 level. As long as XRP remains above this level, the trend will remain upward.
XRP’s next upside target
Looking ahead, the next major upside targets for XRP are the $4.20 and $5 levels. If these break out, the price could rise towards the $6.61 area. These levels are part of a broader long-term bullish outlook for XRP.
