Technical analysis by WaveFibs about Symbol XRP: Buy recommendation (2/5/2025)

🚀 XRP/USD – Bullish Elliott Wave 5 Expansion 🚀 📈 Weekly Chart Analysis | Elliott Wave + Fibonacci + MACD + RSI XRP is currently in a Wave 4 corrective phase, setting up for a Wave 5 expansion. If XRP maintains key support levels and breaks above resistance, we could see a strong bullish move toward $10.45 and beyond. 📊 Elliott Wave & Fibonacci Analysis XRP's Elliott Wave structure suggests that Wave 5 is yet to unfold. Based on Fibonacci extensions, the next bullish price targets are: ✅ Fib 0.382 (~$4.60 USD) – Initial target, a breakout here confirms strong bullish momentum. ✅ Fib 0.618 (~$8.75 USD) – Mid-term bullish target, aligning with previous resistance zones. ✅ Fib 1.236 (~$10.45 USD) – Key breakout level for an extended Wave 5 rally. ✅ Fib 1.618 (~$14.99 USD) – Ultimate Wave 5 expansion if bullish momentum continues. ✅ Fib 1.618 Extended (~$31.56 USD) – Parabolic target if XRP enters a strong breakout cycle. 🔹 Key Support Levels 🟢 $2.03 USD (Fib 0.236) – Support 🟢 $1.47 USD (Fib 0.382) – Deeper retracement support. 🟢 $1.14USD (Fib 0.5) – Must hold for the bullish structure to remain valid. 🔹 Key Resistance Levels 🚀 $3.99 USD – Crucial breakout zone. 🚀 $5.05 USD – First major Wave 5 target. 🚀 $8.75 USD – Strong resistance and Fib 0.618 level. 🚀 $10.45 USD – Breakout confirmation of Wave 5 expansion. 📉 MACD & RSI Confirmation 📊 MACD Analysis: ✅ Bullish Crossover – MACD lines show a strong momentum shift. ✅ Increasing Histogram – Indicates rising bullish pressure. ⚡ RSI Strengthening: ✅ Currently ~77 RSI – Entering strong bullish territory. ✅ Above 60 RSI – Momentum shift confirmed, but a short-term pullback is possible before further gains. 📊 Volume Analysis & Market Structure 📌 Current Volume: 🔹 Volume is increasing, confirming strong buyer interest. 🔹 A spike in buy volume above $3.99 USD will confirm a breakout toward $5.05 USD. 🚦 Market Structure Confirmation: ✅ Higher lows forming – Bullish structure intact. ✅ Breakout above $3.99 USD + volume spike = Strong Wave 5 rally potential. ✅ Bullish Trade Plan 🔹 Entry Trigger: Breakout above $3.99 USD with volume confirmation. 🎯 Take Profit 1: $5.05 USD (Fib 0.382) 🚀 Take Profit 2: $8.75 USD (Fib 0.618) 🌕 Take Profit 3: $14.99 USD (Fib 1.618) 🛑 Stop-Loss: Below $1.14USD (Fib 0.5) 💡 Conclusion & Market Sentiment 🔹 XRP is approaching a key resistance zone at $3.99 USD. 🔹 A break and close above this level with strong volume will signal the start of Wave 5, potentially targeting $8.75 USD and beyond. 📢 Market sentiment remains strongly bullish. ✅ If XRP holds above $1.14 USD, the bullish wave structure remains intact. ✅ MACD & RSI confirm strong momentum, but volume confirmation is needed. ✅ Watch for a volume breakout above $3.99 USD before entering a trade. 📢 What’s your XRP price target? Comment below! 🔥 📈 Like & Follow for More Crypto Analysis! 🚀