• XRP has completed a textbook triple tap formation, establishing a base near $1.90 that propelled the price toward recent highs around $3.41.
•  The previous D3 supply zone has flipped into a support zone, now being retested at $2.99—an area holding despite a 3.5% pullback this week.
•  A possible fifth subwave is developing as part of a broader five-wave impulse from the $1.90 low, suggesting potential for another upward leg.

XRP has returned to a critical technical level after completing a textbook triple tap structure. The asset briefly touched its range highs and has now entered a retest phase. Currently trading at $3.15, XRP has dipped 3.5% over the past seven days, while holding near a key support level at $2.99. 

A previously identified D3 supply zone, now flipped, is being tested as support. Market behavior shows no significant bearish breakdown despite the current pullback, which appears to align with a typical corrective dip after an impulsive move upward. Notably, the structure remains intact as XRP continues to respect established technical levels.

XRP Retests Former Supply Zone as Support Holds

The triple tap pattern began forming earlier this year and reached completion with a third low near the $1.90 region. This base structure served as the springboard for XRP’s climb toward its range highs. As the price advanced, it breached prior resistance and flipped the D3 supply zone. 

This green zone, once a point of rejection, now acts as a potential support region. Currently, XRP is retesting this area, and price stability here may confirm its transition into a new demand zone. The retest has held so far, despite a minor pullback of 3.5% this week, aligning with a broader structural pattern still in play.

XRP Nears Final Leg of Five-Wave Pattern as Momentum Cools

Short-term wave count analysis indicates XRP may be close to completing a five-wave structure off the $1.90 lows. The chart shows four clear subwaves, and a small fifth wave appears to be developing. Price action remains within expectations for such a formation. 

While low timeframes suggest potential for one more upward push, the overall structure remains consistent with typical Elliott Wave behavior. Momentum has cooled, but the ongoing dip remains within technically acceptable limits. XRP’s reaction at the flipped D3 supply zone could determine whether this final subwave completes in the near term.

Support and Resistance Levels Remain Clear and Defined

XRP’s immediate support lies at $2.99, a level tested several times in recent sessions. Resistance is established at $3.41, marking the upper range boundary. The price currently trades in a defined zone between these levels, and short-term fluctuations continue to respect this structure. 

The deviation/fakeout marked on the left side of the chart adds further context, showing where previous false moves have occurred. As long as the current support holds, the broader market structure remains valid. Traders will continue watching these key levels closely for any significant shifts in trend.