XRP traders eye rally to new all-time highs at $5.85 as key support holds

XRP’s (XRP) terms is trading 28% supra its $1.94 lows reached connected Feb. 28, up 6.5% implicit the past 24 hours. Traders support rally hopes live arsenic the altcoin holds supra a cardinal enactment level.  

XRP/USD regular chart. Source: Cointelegraph/TradingView

Elliott Wave investigation projects XRP terms to $5.85

Dark Defender, a crypto marketplace analyst, highlighted that XRP was trading supra a cardinal enactment portion successful the four-hour timeframe, arsenic shown successful the illustration below.

Note that this level represents the 38.2% Fibonacci retracement of the November rally to seven-year highs of $3.40. Dark Defender believes this marked the “Wave 2 bottom”  and “we are waiting for XRP to determination toward $2.60.”

According to the analyst, the cardinal levels to ticker connected the downside are $2.33 and $2.22, which indispensable beryllium maintained. If this happens, XRP terms volition proceed its question operation with the expected 5th question targeting $5.85. Such a determination would correspond 132% gains from the existent price.

“XRP is acceptable for an all-time high.”

XRP/USD 4-hour chart. Source: Dark Defender

Similar sentiments were shared by fashionable expert Egrag Crypto, who said that XRP was “gearing up for its adjacent large leap” arsenic it consolidated supra $2.30.

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According to the analyst, XRP followed a akin classical Fibonacci hold determination successful 2017, breaching the 161.8% hold level earlier making a parabolic determination toward the 223.6% Fibonacci hold level.

If past repeats itself, “this would enactment XRP betwixt $27 - $222, aligning with the Fibonacci hold instrumentality and 2017 rhythm correlations.”

The analyst, however, sets the mean people for XRP terms betwixt $8 and $13.

“XRP’s adjacent large limb up could people $8.5 - $13 (Fib 1.272 and Fib 1.414).”

XRP/USD play chart. Source: Egrag Crypto

Increasing onchain enactment backs XRP’s upside

Data from Cointelegraph Markets Pro and TradingView shows that the XRP terms drawdown implicit the past week pushed the cryptocurrency to a three-month debased of $1.94 connected Feb. 28. 

XRP investors took vantage of the little levels and accumulated much astatine discounted prices. Onchain information from marketplace quality steadfast Glassnode reveals that progressive XRP addresses person surged by a whopping 680% successful the past week, jumping from 59,900 connected Feb. 27 to 468,171 connected March. 4.

XRP: Active addresses and transaction count. Source: Glassnode

Similarly, XRP transaction number accrued by 23% implicit the aforesaid period, signaling increasing web usage. 

Such a spike successful web enactment often indicates increasing capitalist involvement and could beryllium an aboriginal awesome of a imaginable bullish reversal. 

Popular expert Brett besides points out that whale enactment roseate successful tandem with expanding onchain enactment arsenic ample investors scooped astir 1 cardinal XRP tokens successful the past 24 hours. 

— Brett (@Brett_Crypto_X) March 4, 2025

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.