XRP (XRP) prices rose 28% from February 28 to $ 1.94, up 6.5% over the last 24 hours. Traders maintain Rally Hopes Alive as Altcoin increases its main support level.
XRP/USD Maeil Daily Chart. Source: COINTELEGRAPH/TradingView
Elliott Wave Analysis Project XRP is $ 5.85
The encryption market analyst, Dark Defender, emphasized that the XRP is trading above the main support area for four hours, as shown in the chart below.
This level represents 38.2% of the November rally, Fibonaki, with a maximum of $ 3.40. Dark Defender thinks this is “Wave 2 Bottom” and “XRP is waiting for moving to $ 2.60.”
According to the analyst, the main levels to watch in the disadvantages are $ 2.33 and $ 2.22, which must be maintained. In this case, the XRP price will continue the waves with the fifth waves with the goal of $ 5.85. Such movements represent 132% of the current price.
“XRP is preparing for the best ever.”
XRP/USD 4 hours chart. Source: Dark defender
EGRAG CRYPTO, a popular analyst, shared similar emotions, and XRP said, “We are preparing for the next big leap.”
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According to the analyst, XRP violated the level of 161.8% expansion before moving to 223.6% fibonacci expansion along the similar classic Fibonacci Extension Move in 2017.
When history is repeated, “This is consistent with Fibonacci Extension Tool and 2017 cycle correlation between $ 27- $ 222.”
However, the analyst sets the middle goal of the XRP price from $ 8 to $ 13.
“The next major leg-up of XRP can aim for $ 8.5- $ 13 (FIB 1.272 and FIB 1.414).”
XRP/USD weekly chart. source: egrag crypto
As the onChain activity increases, an increase in XRP occurs.
According to the data from Cointelegraph Markets Pro and TradingView, the XRP price cut last week raised its cryptocurrency to $ 1.94 on February 28.
XRP investors have accumulated more at discounted prices using low levels. According to the Market Intelligence company GlassNode’s OnChain data, the activity XRP address increased by 680% last week, so it surged from 59,900 to 468,171 in March 27. 4.
XRP: Number of active addresses and transactions. source: Glass node
Similarly, the number of XRP transactions increased by 23% over the same period, signing a signal to increase network use.
The surge in network activities often indicates that investors are increasing and can be an early sign of potential optimistic reversal.
Popular analyst Bret also pointed out that whale activities have risen as large -scale investors spread about 1 billion XRP tokens over the past 24 hours, as whale activities increased.
Caaboooooooooooooooooooooooooooooooooooooooooooooooooooooo of
Whale activity $ XRP In the last 24 hours, the market has soared, with nearly 1 billion coins. The daily active address exceeded 135,000 on March 4, signing a signal to raise interest in Altcoin. pic.twitter.com/BQEJFF5DNC
-BRETT (@brett_crypto_x) March 4, 2025
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.