XRP Price Eyes Reversal After Fifth Wave Correction Toward $2.20

After strong gains earlier this year, XRP has pulled back into a deep correction that’s testing investor patience. But this selloff might actually be setting up the next rally.

What the Chart Shows

According to ChartNerd latest chart analysis, XRP appears to be finishing an Elliott Wave 5 correction—a classic technical pattern that often comes right before a fresh upward move. The price is now targeting the $2.20 level, a historically strong accumulation zone that could mark the bottom before the next leg up.

The technical setup paints a clear picture: XRP is trading within a long-term ascending channel and has completed four correction waves, with the fifth and final wave now pointing toward $2.20. Here’s what matters:

• Current price sits at $2.46 and is heading toward the channel’s lower boundary
• The $2.20 zone lines up with both the channel support and a prior accumulation area—making it a key level to watch
• Wave 5 is expected to bottom near this support before a V-shaped bounce kicks in
• If $2.20 holds, XRP could rally toward $3.20–$3.60 as the next impulse wave begins
• If it breaks below $2.00, the next major support sits near $1.50, around the 2021 cycle high
• Resistance to reclaim is around $2.80–$3.00, where Wave 4 topped out

The chart’s projection arrow suggests a sharp rebound once price touches support—classic behavior when a correction completes.

Market Sentiment: Panic or Opportunity?

Mentioned “weak hands panicking,” which usually signals capitulation—the moment when nervous traders sell while experienced holders start buying. That fits what’s happening now: retail investors are bailing near the bottom of the channel, but the structure suggests smart money is quietly accumulating at these levels.

On the fundamental side, XRP continues gaining traction with Ripple’s expansion in cross-border payments and its On-Demand Liquidity network. Once the technical reversal signals confirm, these tailwinds could fuel renewed confidence and buying pressure.

The $2.20 level is the line in the sand. If XRP stabilizes here and forms a base, it would confirm the fifth wave is done and open the door for a strong rally. But if it cracks below $2.00, the recovery could take longer. For now, all eyes are on whether this correction wraps up as expected—and whether the next chapter brings the breakout bulls are waiting for.