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XRP Price Correction: Buy the Dip or Trend Reversal?
XRP faced a mild decline over the past 24 hours, sparking discussions among market participants about the potential implications. Steph Is Crypto (@Steph_iscrypto), a prominent crypto analyst and XRP supporter on X (formerly Twitter), addressed this movement in a recent video analysis. While acknowledging the pullback, he emphasized that the broader trend remains intact.
Price Action and Technical Structure
According to the analyst, XRP had recently broken out from a falling wedge pattern—typically a bullish indicator—leading to a rally that briefly reclaimed the $3.10 level. However, resistance encountered shortly thereafter triggered a retreat on lower time frames. Despite this, Steph framed the downturn as a healthy consolidation phase within a continuing uptrend.
“This could be a very interesting area to potentially open up new long positions,” he said, suggesting the pullback may offer strategic entry points rather than signaling deeper weakness.
Key Support Zones Identified
Utilizing Fibonacci retracement levels from the September 1 low, Steph outlined key support areas at $2.98, $2.93, and the critical $2.87 zone, which he described as the “golden ratio.” These levels are being closely watched by traders aiming to align with the prevailing bullish structure.
Upside Targets Remain Valid
Despite the dip, Steph remains optimistic about XRP’s near-term prospects. He reaffirmed that the technical target from the wedge breakout sits near $3.64—representing over 20% upside from current prices. Additional targets include $4.00, $4.50, and even $5.00, although he cautioned that “each step should be approached sequentially.”
He also pointed to XRP’s position above its daily EMA ribbons and the lack of bearish divergence in the RSI as signs of ongoing strength. While he acknowledged a bearish divergence on the weekly chart—hinting at potential corrections in the coming months—he described the current pullback as “minor.”
