XRP Price Analysis: Ripple Holds Key $1 Support After 18-Month Test

XRP, the native token of the Ripple network, is currently trading near the psychologically important $1 mark, a level that has not been tested in roughly 18 months. Market analysts are closely watching this support zone, as a decisive hold could set the stage for a significant upward move.

Technical analysts using Elliott Wave theory suggest that XRP may be in the early stages of a Wave 3, which is often the strongest and most extended wave in a bullish cycle. If this pattern plays out, some projections place the next major target at $3, representing a potential triple-digit gain from current levels.

Key support is identified around $1, with additional support near $0.90 if the $1 level fails. On the upside, resistance is expected near $1.30 and then $1.50, where previous selling pressure could emerge.

Traders are also monitoring broader market sentiment, regulatory developments, and trading volumes as potential catalysts. A breakout above resistance levels could confirm the bullish thesis, while a breakdown below support might lead to further consolidation.

As with all cryptocurrency investments, volatility remains high, and investors are advised to conduct their own research before making decisions.