Here's What Is Going On With The XRP Price Today | Bitcoinist.com

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Crypto analyst Hov has released a fresh analysis on the XRP price, highlighting its recent movements amid ongoing market volatility. The chart shows trading around $1.41 as of February 19, with a history of sharp declines and recoveries marked by Elliott Wave labels dating back to 2018. This update comes as the altcoin clings to key support levels, aiming to preserve the conditions for a larger bullish continuation despite this week’s pullback

The next directional move could determine whether the recent decline marks the end of XRP’s prolonged corrective phase or the beginning of further downside

Update On Recent XRP Price Movements

In a post on X, Hov noted that since his last update, the XRP price had declined more than expected, nearly breaking a clean diagonal pattern he had been closely watching. Despite this, the analyst noted that the cryptocurrency has not closed below the critical high-timeframe on the chart, which means the pattern is still technically valid. However, he said that price is “barely hanging on,” indicating that one more drop could cause the setup to fail

Related Reading: XRP On Coinbase Crashes 90%, Binance Hits Lowest Reserves, What’s Going On?The accompanying chart illustrates this with horizontal blue support bands at around $0.42 and $1.41, where the price has bounced several times since late 2024. Based on the token’s recent move and current structure, Hov has updated his wave count to a “sideways combo correction” within a larger degree fourth wave, as depicted on the chart with labels like (w), (x), (y), and (z), showing flattened price action

Source: Chart from Hov on XThis adjusted wave structure accounts for the extended consolidation observed between 2022 and 2025, during which XRP oscillated without decisive breaks. According to Hov, XRP’s price reached a “perfect tag of the 50,” evident around the 0.618 Fibonacci level on the chart

The chart also reveals a series of impulsive upward waves, labeled I through V, followed by corrective phases that have repeatedly tested lower support. Hov emphasized the need for the price to develop in five waves off the recent low to signal strength. Unlike many altcoins, which display three-wave structures, the analyst said XRP shows a decent five-wave micro pattern, suggesting stronger momentum despite the ongoing downtrend

What’s Next For The Altcoin?

According to Hov’s projection, the next step for XRP is to develop a full five-wave advance from the recent low into the $2 region. A push toward $2 would reinforce the view that the corrective phase has likely ended and a bottom is in place. The analyst also recommends watching for a three-wave retracement back into support for further confirmation of XRP’s bullish setup.

Related Reading: Analyst Predicts XRP Price Will Reach $13 In 3 Months As Accumulation EndsIf this confirmation occurs, the chart outlines a larger continuation path beyond $2. The projected targets suggest that XRP could gradually climb toward $3.42, corresponding to the 0 Fibonacci extension. After this, the ascending blue line on the chart indicates the next price target of around $5.7. Once the altcoin reaches this level, Hov anticipates the onset of a larger wave 5, with a potential target at $8.

XRP trading at $1.41 on the 1D chart | Source: XRPUSDT on Tradingview.comFeatured Image from Getty Images, chart from Tradingview.com Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.