XRP Rebounds Will It Reclaim 2-Dollar Mark

XRP is currently on a rebound, climbing back above $1.40 after a drop to $0.99 in August. The cryptocurrency is now trading at $1.48, but analysts are divided on whether this rally will push it back above $2. Market analyst More Crypto Online suggests that the current structure could lead to a move toward the $2.14-$2.99 range, but XRP must maintain key support levels to make this happen.

The ongoing rally started after the August low of $0.98 and saw another push from the mid-September low of $1.25. XRP dropped into the $1.10-$1.38 support zone on Sept. 16 before buyers drove the price higher. Data from the broader chart indicates a potential path to new all-time highs, but this remains speculative as price movements can change direction at any point.

According to Elliott Wave analysis, XRP could be starting a five-wave advance from the August low. The cryptocurrency has already formed waves one and two, with wave three potentially beginning now. The $1.10-$1.37 support zone could serve as the base for this third wave. If buyers maintain control, XRP could form a higher low and then a higher high, completing five waves within wave one before entering a correction and beginning a larger third wave.

The long-term projection for XRP remains $11.40, based on a rally between the 2022 low and the January 2025 swing high. However, this target is contingent on XRP maintaining several smaller stages and support levels. The immediate structure favors higher prices as long as key support levels hold, but the rally could fail if XRP cannot produce the expected five-wave advance. Resistance levels to watch include $1.66, $1.93, and $2.25.