XRP Completes C Wave Pattern Near $1.21 Support

⬤XRP finished a C-wave structure built from five smaller sub-waves, a classic Elliott Wave pattern that typically marks the final leg of a correction. Price has been stabilizing around the $1.39 level following an extended decline, which traders are now watching closely for signs of a trend shift.

⬤The Elliott Wave count maps the decline from wave (1) through wave (5) within the C-wave, with the correction appearing to bottom near the $1.21 support zone. Fibonacci retracement levels on the chart flag potential resistance at $1.47 and roughly $1.88, which could serve as the next key targets if buying pressure picks up. Analysts at XRP Rally May Be Near as Chart Mirrors Previous Bull Runs have noted how major XRP moves historically begin after extended corrective phases like this one.

⬤Beyond the wave count, trendlines and cloud indicators on the chart show XRP building a consolidation base near the lower retracement levels. The price is currently testing the 23.6% Fibonacci zone around $1.21, and whether it holds will be critical. According to a prior XRP Bounces Off Key Support — Bulls Eye Rally analysis, similar consolidation setups near major support have historically preceded accumulation phases before recovery.

⬤If XRP holds above the lower Fibonacci zone and begins reclaiming nearby resistance, momentum could shift higher. The broader setup aligns with what was outlined in XRP Price Prediction: Chart Signals a Potential 100% Rally, where analysts highlighted how corrective completions often precede the strongest directional moves. For now, the $1.21 level remains the line in the sand for bulls.