13th January 2025 – (New York) On 13th January 2025, analysts observed that both XRP and XLM are currently experiencing bearish price action, despite recent fluctuations in their respective charts. XRP, having completed a five-wave impulsive structure, reached a peak of $2.50 prior to entering an ABC corrective phase. The key support level for XRP is positioned at $2.20, with potential upward targets set at $2.77.
The XRP four-hour chart reveals that the asset’s wave (v) concluded at the aforementioned peak on 4th January, following a breakout from a prolonged descending triangle that had seen prices plummet to $2 on 30 December. In the wake of this peak, XRP underwent a corrective ABC wave sequence, with wave (c) likely finding support around the $2.20 mark, where significant Fibonacci levels converge.
A temporary bounce pushed XRP to a higher high of $2.60 on 11th January; however, the price has since retraced to the $2.30 region. The Relative Strength Index (RSI) indicates waning momentum as the price neared its recent high, suggesting potential bearish exhaustion. Should critical support levels hold, there may be a resumption of the uptrend, particularly if XRP sustains above the 0.618 Fibonacci retracement at $2.18.
XRP’s immediate resistance is identified at $2.508, while the upside target sits at $2.772. Conversely, failure to maintain levels above $2.20 could set the stage for further declines, with $2.188 acting as a crucial pivot point.
In the case of XLM, the four-hour chart illustrates the conclusion of an ABCDE corrective wave structure, culminating at a low of $0.30 on 31 December. This marked the initiation of a new impulsive wave, with wave (i) extending to $0.48 before encountering resistance. Following a brief downturn to $0.39 on 9 January, XLM attempted to establish a new uptrend, which faltered at a lower high of $0.45.
Currently, XLM appears to be forming a retracement for wave (ii), testing support at the 0.5 Fibonacci retracement level. The RSI is approaching neutral territory, indicating potential for a short-term upturn if key support levels hold. Should wave (ii) conclude above $0.38, XLM could aim for targets of $0.479 and $0.513, which correspond to the previous wave high and the 1.618 Fibonacci extension, respectively.
Key levels for XLM include immediate resistance at $0.441, with critical support at $0.378. Failure to maintain this support could trigger further corrective pressure, potentially retesting $0.351. Alternatively, a continued downtrend may lead to lower lows, indicating that the recent rise was merely part of a larger corrective structure.
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