XRP price didn’t have a great week, but which crypto did really? Analyst More Crypto Online believes the current correction is still behaving relatively well despite the recent weakness.
We regularly follow More Crypto Online because their analysis tends to be high-level, structured and realistic. The focus is usually on clear Elliott Wave levels and confirmation rather than sensational XRP targets.
This time, the most important number is $1.21.
What you'll learn 👉
XRP Price Is Testing Critical Support
The daily chart shows the XRP price correcting from its August high through what the analyst interprets as a three-wave pullback.
Price is now sitting close to the 61.8% Fibonacci retracement around $1.21.
That is the first level bulls want to defend.
There is also deeper support around $1.10, which corresponds closely with the 78.6% retracement.
So even another move lower would not automatically destroy the broader bullish setup.
But $1.21 is where the first battle is taking place.
The XRP Price Path Is Actually Pretty Simple
The analyst’s bullish scenario can be explained without overcomplicating the Elliott Wave structure.
First, XRP needs to hold around $1.21.
Then it needs to break above the falling channel that has contained the recent correction.
If that happens, the first major target is the previous high around $1.66.
From there, XRP could begin attacking the $2 region.
The path would therefore look something like this:
$1.21 support → channel breakout → $1.66 → $2.00-$2.05 → $2.34-$2.53
If momentum becomes much stronger, the chart also contains a larger Fibonacci target near $2.88.
That is when the analysis becomes much more interesting because More Crypto Online would start looking for evidence that XRP is developing a larger five-wave advance.
Read also: XRP Price Crash: Analyst Says Binance Hack Only Accelerated What Was Already Coming
What Happens if $1.21 Fails?
The downside scenario is equally straightforward.
If XRP loses $1.21, the next important support is around $1.10.
That means bulls still have some room before the current setup becomes significantly weaker.
For now, the chart does not say XRP is already beginning a new rally.
It says XRP is sitting in the area from which one could begin.
Confirmation still needs to come from price breaking out of the descending channel.
The $11 XRP Target Is Much Further Away
More Crypto Online also continues to view roughly $11 as a realistic long-term XRP projection.
But this should not be confused with the current setup.
The $11 target is distant and would depend on several much larger bullish structures developing over time.
The immediate XRP story is far simpler.
Hold $1.21.
Break the falling channel.
Retest $1.66.
Then XRP can start thinking about $2 and above.
If $1.21 fails, $1.10 becomes the next level to watch.
So the bullish XRP setup remains alive, but price still needs to prove it.
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