Is XRP Ready to Reverse? Support Holds Firm Ahead of Potential Wave-5 Surge

XRP is defending a critical support level at $2.17, holding steady despite an 18% drop over the past month. Analysts are increasingly highlighting a potential Elliott Wave reversal, which could mark the end of the token’s corrective phase.

After weeks of heavy selling pressure, XRP experienced another volatile session, with market sentiment softening earlier in the week before stabilizing near long-term trend support. The most notable spike occurred at 15:00 UTC, when trading volume surged to 202.7 million tokens — 158% above the average — briefly lifting price to $2.28 before a sharp pullback.

Technically, recent price action aligns with a possible completion of XRP’s broader corrective structure. Elliott Wave experts suggest that the final leg of the ABC correction bottomed near $1.88 earlier this month, coinciding with key Fibonacci extensions often associated with cycle lows.

On Tuesday, XRP traded within a narrow $0.11 range between $2.17 and $2.28. Following the rejection at $2.28, price retreated to $2.17 before consolidating between $2.18 and $2.19. Late-session buying helped push XRP from $2.183 to $2.188, supported by volume spikes of 387K and 427K tokens, indicating accumulation near key demand levels.

The repeated defense of $2.17 suggests sustained buyer interest, even as descending peaks from the past week maintain a resistance structure. Multi-stage consolidation above $2.184, however, points to accumulation rather than distribution.

The next key pivot sits at $2.22. Analysts note that a sustained close above this level would confirm a broader bullish reversal, potentially signaling the start of Wave-5 expansion according to Elliott Wave theory. Long-term Fibonacci projections place Wave-5 targets near $5.85 (261.8% extension), but XRP must first reclaim $2.22 and then $2.28 to confirm breakout momentum.

Volume trends support the reversal thesis: heavy buying at $2.28 followed by steady accumulation near $2.18 suggests traders are positioning ahead of potential upside.

XRP is now at a pivotal point. Holding $2.17 is essential to maintaining the emerging bullish structure, while a close above $2.22 would mark the first meaningful bullish confirmation in weeks. Conversely, a breakdown below $2.17 could open the path to $2.10 and $1.98, invalidating the bullish count.

With strengthening ETF flows, recovering intraday accumulation, and the potential completion of the corrective wave, the next 48–72 hours could determine whether XRP begins a new macro expansion phase or slips back into deeper consolidation.