XRP is joining the broader crypto recovery, trading around $1.31-$1.33 as Bitcoin holds above $80,000 and Ethereum pushes above $2,400.
The market rebound is being helped by a weaker U.S. dollar, falling oil prices and improving risk sentiment after the U.S. midterm elections. Bitcoin is up more than 5% over 24 hours, while Ether has gained around 8%.
For XRP, though, one analyst says the next few cents could be much more important than the headline percentage gain.
More Crypto Online says XRP has broken out of its descending channel, but he is not ready to call the move fully confirmed yet.
What you'll learn 👉
XRP Breaks the Channel, But the Move Is Still Only Three Waves
We regularly cover More Crypto Online because his analysis tends to be very level-driven and gives clear conditions that would invalidate or confirm the setup.
His latest daily XRP chart shows price breaking above the descending channel that contained the correction from the September highs.
That is the first positive XRP signal.
The problem is the structure of the move.
So far, he counts only three waves higher. In Elliott Wave analysis, a three-wave move can still be corrective, meaning the breakout can fail and price can fall back into the previous structure.
That is why he wants to see five waves higher before treating the breakout as more convincing.
His key level is $1.34.
Why $1.34 Is Important for XRP
The $1.34 area is not arbitrary.
Independent technical data also puts XRP’s 50-day EMA around $1.34, with the 100-day EMA near $1.32 and the 200-day EMA around $1.37. That creates a dense resistance zone directly above current price.
More Crypto Online wants XRP to push above $1.34, complete a five-wave move, and then pull back without losing the breakout structure.
That sequence would be much stronger than simply pumping through resistance for a few hours.
His first support sits around $1.24.
Below that, $1.21 becomes the next area to watch, followed by the much deeper $1.10 level.
The chart also lines up with Fibonacci support near $1.21 and roughly $1.10, so those are the levels where the bullish count would come under progressively more pressure.
Read also: XRP Rich List: How Much XRP Do You Need to Be in the Top 1%?
XRP Price Prediction: Long-Term Target
The eye-catching part of his post is the $11+ target.
But that should not be confused with his current trade setup.
His long-term Elliott Wave count still leaves room for XRP to eventually move above $11, but the chart in front of traders today is focused on much smaller steps.
First: stay above the breakout.
Second: clear $1.34.
Third: produce five waves higher.
Then: survive the pullback.
Only after those conditions are met does the larger bullish structure become more credible.
From around $1.31, a move to $11 would represent gains of more than 700%, so it clearly belongs in a much longer-term scenario.
Crypto Recovery Gives XRP Bulls Some Help
The timing is favorable.
XRP’s move is happening alongside a broad crypto rebound, not in isolation.
Bitcoin is holding above $80,000, Ether has rebounded strongly, and Solana is also gaining. XRP itself has recovered from roughly $1.20-$1.25 levels seen during the recent selloff.
That broader market strength gives the breakout a better chance of continuing.
But the chart still needs confirmation.
For now, $1.34 is the number that matters most.
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