XRP Tests Key Support; Is a Wave-5 Breakout Signaling a Market Bottom?

XRP is holding firm at a key support region, defending the $2.17 level despite an 18% monthly decline, as traders begin to spot signs of a potential Elliott Wave reversal that could mark the end of its corrective downturn.

The token weathered another turbulent session after weeks of sustained selling pressure. Market sentiment eased earlier in the week but began to stabilize as price approached long-standing trend support. The most dramatic move came at 15:00 UTC, when trading volume surged to 202.7 million tokens — 158% above the norm — sending XRP to $2.28 before sellers quickly stepped in.

Recent price behavior is increasingly consistent with the potential completion of XRP’s broader corrective structure. Elliott Wave analysts argue the final leg of the ABC correction likely bottomed near $1.88 earlier this month, a region that aligns with key Fibonacci extensions often associated with cycle lows.

Throughout Tuesday’s session, XRP moved within a tight $0.11 band between $2.17 and $2.28. After rejecting from $2.28, price slid back toward the $2.17 support zone before finding a foothold between $2.18 and $2.19. Late-session trading showed constructive signs: back-to-back volume spikes at 02:12 and 02:15 (387K and 427K) helped lift price from $2.183 to $2.188, hinting at accumulation.

The bulls’ continued defense of $2.17 indicates the presence of committed buyers, even as the broader structure still shows lower highs forming a descending resistance line. However, the multi-phase consolidation above $2.184 is gradually shifting market tone from distribution to accumulation.

The next major decision level sits at $2.22 — the pivot that analysts believe will confirm a broader trend reversal. According to Elliott Wave mapping, XRP’s Wave-4 corrective structure appears complete, with the $1.88 low marking the 161.8% Fibonacci extension typically seen at the end of deep corrective waves. A confirmed close above $2.22 would signal the start of Wave-5 expansion.

Should that occur, extended Fibonacci projections place long-term upside potential near $5.85 (261.8% extension). But before that scenario can unfold, XRP must reclaim $2.22, then break above $2.28 — the level that rejected the previous rally attempt.

Volume trends support the bullish case: the heavy buying during the $2.28 probe followed by quieter but persistent accumulation near $2.18 suggests that positioning may be building ahead of the next move.

XRP now sits at a critical inflection point. Maintaining the $2.17 floor is vital to preserving the early signs of reversal. A close above $2.22 would mark the strongest bullish confirmation in several weeks, opening the door for higher-wave targets. Losing $2.17, on the other hand, exposes $2.10 and $1.98 and would invalidate the current bullish count.

With ETF flows improving, intraday accumulation strengthening, and the corrective wave possibly completed, the next 48–72 hours may determine whether XRP moves into a new expansion phase or falls back into deeper consolidation.