What to know:
- XRP price remains in an Elliott Wave bearish structure, currently in phase.
- Major support between $0.95 and $0.74 remains the downside target.
- RSI is at 55.32, and MACD is showing improving bullish momentum.
- Ripple AWS partnership boosts long-term XRP adoption outlook growth.
XRP price is still trading within a broader bearish Elliott Wave structure, though short-term indicators show improving momentum. Key support levels remain far below current price action, while RSI and MACD suggest early recovery strength. Meanwhile, Ripple’s AWS partnership strengthens long-term adoption potential and overall ecosystem growth outlook.
Key Fibonacci Resistance Caps XRP Price Recovery
XRP price remains under heavy selling pressure on the 4-hour timeframe after breaking down from a completed Elliott Wave triangle formation.
The rejection from the wave (E) region confirmed bearish continuation, while the sharp decline that followed reinforced negative momentum. Price action continues to favor sellers over buyers currently.
The Elliott Wave count suggests XRP is still progressing through a larger Wave (3) decline, with the final fifth sub-wave potentially extending lower.
The highlighted support area between $0.95 and $0.74 remains the primary downside target. This zone could eventually attract stronger buying interest and stabilization.
Although XRP may experience a short-term relief rally following its recent decline, multiple resistance levels remain overhead.
The Fibonacci retracement region around $1.17–$1.20 is likely to act as a barrier. A sustained move above $1.36 would be needed to challenge the current bearish outlook, according to the crypto analyst MCO Global DE.
Also Read: XRP Price Rebounds Above $1 as Market Eyes Potential $10–$20 Move
XRP Indicators Support Continued Upside Potential
The technical indicators have taken a new turn as the whole chart remains bearish. First of all, the Relative Strength Index (RSI) has made an important move towards 55.32, which lies above its signal level of 42.07.
This means that buying interest is increasing after the previous period of overselling. As the indicator remains above 50, traders’ demand becomes increasingly stronger.
The indicator MACD is now bullish, with the histogram rising to 0.01162 after successfully rebounding above the zero level.
The MACD line is positioned at -0.00676 and continues rising towards the bullish crossover with the signal line, which currently stands at -0.01838. The growing green bars on the histogram point to more strength in bullish momentum.
Ripple Boosts XRP Adoption Through AWS
Becoming a member of the AWS Partner Network is a very important milestone for Ripple, giving it wider scope for accessing blockchain-based payment and cryptocurrency services.
Through AWS, Ripple can now connect to millions of business clients who will find it easy to integrate with its system.
This partnership will increase the scope of Ripple in the realm of cloud computing and might help open up new avenues of use for the cryptocurrency going forward.
Increasing exposure in the realm of businesses experimenting with blockchain technology can generate new uses for XRP.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: XRP Price Outlook Suggests 14x Upside if Key Support Holds
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