XRP Wave 5 Correction Signals Potential Surge to New All-Time Highs

• XRP completing Wave 5 downtrend, key supports at $2.42, $2.03, $1.65.
  
• RSI bullish divergence could confirm exhaustion and signal rebound.
  
• November may trigger a rapid surge toward new all-time highs.

As altseason anticipation builds, Ripple’s XRP is emerging as a key player poised for a breakout. After years of stagnation, analysts predict the altcoin could soon reach new all-time highs, potentially even breaking into double-digit territory this bull cycle.

XRP’s Final Drop Before the Surge

Despite recent market turbulence, a reputed crypto analyst remains bullish on XRP’s trajectory. According to her analysis, XRP is completing the final stages of Wave 5 after rejecting the $2.68 Wave 4 resistance. The altcoin is currently trending downward, with RSI indicators showing new lows, signaling the completion of the corrective phase.

Key support levels to watch include $2.42, $2.03, and $1.65. A break below $2.42 could confirm a continuation toward these lower targets. The $1.65 level aligns with the macro 0.618 retracement, marking a critical point for the market before the next major impulse upward begins. Traders are closely monitoring RSI for bullish divergence, which could signal exhaustion and the start of XRP’s upward momentum.

Wave 5 to Trigger New ATH

The analyst emphasizes that Wave 5 will unfold as a 5-wave impulse down, rather than a straight decline. Support at $2.42 could temporarily hold before Wave 3 or 5 pushes lower. Two possible scenarios exist: one targeting 0.5 support, the other 0.618 support. These patterns are typical of corrective waves and suggest that a significant rebound is imminent.

Also Read: Canary XRP ETF Nears Automatic Approval After Removing SEC Delay Clause

October is expected to close weak, but November could mark the launch of the next major wave. Once the final low is confirmed, XRP is positioned for a rapid and noticeable surge toward new highs, potentially reigniting altseason and attracting renewed investor attention.

XRP’s chart setup points to a strategic bottoming phase before a powerful upward move. While traders monitor key support levels and RSI signals, the anticipation of a Wave 5 completion could set the stage for a strong November rally. Altseason optimism hinges on this movement, and XRP may well become the leading altcoin to drive market momentum.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

Andrew Chen

I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.