Here’s What Is Going On With The XRP Price Today
Crypto analyst Hov has launched a recent evaluation on the XRP value, highlighting its latest actions amid ongoing market volatility. The chart reveals buying and selling round $1.41 as of February 19, with a historical past of sharp declines and recoveries marked by Elliott Wave labels relationship again to 2018. This replace comes as the altcoin clings to key support levels, aiming to protect the situations for a bigger bullish continuation regardless of this week’s pullback.
The subsequent directional transfer may decide whether or not the latest decline marks the top of XRP’s prolonged corrective phase or the start of additional draw back.
Update On Recent XRP Price Movements
In a put up on X, Hov noted that since his final replace, the XRP value had declined more than expected, practically breaking a clear diagonal sample he had been carefully watching. Despite this, the analyst famous that the cryptocurrency has not closed beneath the crucial high-timeframe on the chart, which suggests the sample continues to be technically legitimate. However, he stated that value is “barely hanging on,” indicating that yet another drop may trigger the setup to fail.
The accompanying chart illustrates this with horizontal blue help bands at round $0.42 and $1.41, the place the value has bounced a number of occasions since late 2024. Based on the token’s latest transfer and present construction, Hov has up to date his wave rely to a “sideways combo correction” inside a bigger diploma fourth wave, as depicted on the chart with labels like (w), (x), (y), and (z), exhibiting flattened value motion.
This adjusted wave construction accounts for the prolonged consolidation noticed between 2022 and 2025, throughout which XRP oscillated with out decisive breaks. According to Hov, XRP’s value reached a “good tag of the 50,” evident across the 0.618 Fibonacci degree on the chart.
The chart additionally reveals a collection of impulsive upward waves, labeled I by way of V, adopted by corrective phases which have repeatedly examined decrease help. Hov emphasised the necessity for the value to develop in 5 waves off the latest low to sign power. Unlike many altcoins, which show three-wave structures, the analyst stated XRP reveals a good five-wave micro sample, suggesting stronger momentum regardless of the ongoing downtrend.
What’s Next For The Altcoin?
According to Hov’s projection, the following step for XRP is to develop a full five-wave advance from the latest low into the $2 area. A push towards $2 would reinforce the view that the corrective section has seemingly ended and a bottom is in place. The analyst additionally recommends looking ahead to a three-wave retracement again into help for additional affirmation of XRP’s bullish setup.
If this affirmation happens, the chart outlines a bigger continuation path past $2. The projected targets recommend that XRP may step by step climb towards $3.42, equivalent to the 0 Fibonacci extension. After this, the ascending blue line on the chart signifies the following value goal of round $5.7. Once the altcoin reaches this degree, Hov anticipates the onset of a bigger wave 5, with a possible goal at $8.
