hidden channel points to $4.50 rally

XRPs price structure has been exceptionally clean on higher time frames, with price respecting both the channel high and channel low since late 2024. This type of symmetrical behavior strengthens the reliability of the structure and adds weight to its technical merit. Throughout the accumulation phase, XRP has traded primarily within the value area, the zone between the value area low and high, suggesting prolonged consolidation before expansion.

The current rally has brought XRP toward the value area high, where resistance is expected. This level also converges with the 0.618 Fibonacci retracement of the recent range, increasing the likelihood of a pullback. A rejection here, while short-term bearish, would actually help validate the larger bullish scenario.

The key to maintaining this bullish thesis lies in the $1.97 support zone. This level, being the edge of the channel and also aligned with both the Fibonacci level and value area low, presents a textbook buy zone. If bulls defend this region successfully, it could trigger the next leg up within the channel, a move that would aim directly at the upper boundary near $4.50.

What to expect in the coming price action

Should XRP continue respecting the channel structure, a short-term pullback to $1.97 could provide a golden opportunity for bulls. As long as this area holds, the broader trend remains intact, and a breakout toward $4.50 becomes more likely as mid-2025 approaches.

Keep a close eye on volume and market momentum at the key levels mentioned, these will be crucial for validating any breakout scenario.