XRP Elliott Wave Analysis: Fibonacci Extension Targets in Focus | Weekly Update

XRP is currently navigating a critical juncture in its Elliott Wave structure, with the market consolidating near a pivotal Fibonacci support zone. As of February 9, 2026, the token trades at $1.41 USD, down 2.35% over the past 24 hours. This pullback appears to be completing Wave (4) of a larger macro impulse that initiated from the 2022 lows—a textbook corrective phase that could be setting up for substantial gains if key technical levels hold.

Current Price Action & Elliott Wave Structure

The ongoing wave pattern displays the overlapping, corrective characteristics typical of Wave (4) formations. Price is holding comfortably within the 0.5 to 0.618 Fibonacci retracement zone—what traders call the “HWB” to “GZ” support area. This is not coincidental; fourth waves historically respect these retracement bands, and XRP is demonstrating classic technical resilience. The structure suggests the corrective phase is mature, with Wave (5) poised to emerge next if support remains intact.

Fibonacci Extension Targets & Bullish Potential

The real intrigue lies in the fibonacci extension levels that could define Wave (5) gains. Should momentum maintain and buyers drive price above the immediate resistance, the first major target aligns with the 0.236 macro Fibonacci extension at $4.50 USD. However, if volatility intensifies and buying pressure sustains, fibonacci extension projections point toward an even more ambitious $6.00 level. These aren’t arbitrary numbers—they represent mathematically derived zones where previous wave structures often terminate or pause. For traders focused on medium-term upside, the fibonacci extension framework offers both a roadmap and realistic profit targets.

Support Zones & Risk Management Framework

The 0.5–0.618 Fibonacci band currently serves as the make-or-break level. Holding above this zone validates the bullish Elliott Wave count and supports the continuation thesis. However, a decisive break below this support would suggest Wave (4) is extending deeper, redirecting downside attention toward 0.35–0.30 USD—a scenario that would negate the primary bullish narrative.

This creates a clear trading decision tree: confirmation above support favors accumulation and Wave (5) unfolding, while failure to hold opens the door toward a larger corrective leg. Risk-conscious traders should monitor this level closely, as it determines whether the fibonacci extension targets remain probable or whether a reset becomes necessary.

What’s Next for XRP

The coming weeks will test whether XRP can stabilize above the Fibonacci support and initiate its fifth wave rally toward the fibonacci extension targets outlined above. The setup is technically sound, the support is well-defined, and the upside potential is compelling—but execution is everything in crypto markets.