XRP – Minor pullback expected after reaching new all-time high

XRP continues to lead the cryptocurrency market, extending its sharp rally to a new all-time high at \$3.66 after a nearly 10% surge on Friday.

Market sentiment was significantly boosted following the U.S. House of Representatives’ approval of three major crypto-related bills, serving as the primary catalyst behind this week’s bullish momentum.

XRP hit two key milestones this week: breaking above the psychological \$3.00 level and surpassing the previous record high at \$3.4020.

The token is on track to post its fourth consecutive weekly gain, rising over 20% this week alone, with the bullish leg from the June 22 low of \$1.9411 accelerating sharply over the past two weeks.

Price action is currently in an extended third wave of a five-wave cycle that began from the April 6 low at \$1.6088. This wave has now exceeded the 161.8% Fibonacci expansion level, reinforcing the strength of the uptrend.

However, overbought daily indicators and potential profit-taking at week’s end may lead to a temporary pullback. The formation of a daily candle with a long upper shadow adds to the case for near-term consolidation.

The previous high at \$3.4020 now acts as key support, expected to limit downside corrections. Further support lies at \$3.3577 (today’s low) and \$3.2506 (23.6% Fibonacci retracement of the \$1.9080–\$3.6653 rally).

Only a sustained drop below the \$3.00 zone (psychological level and 38.2% Fibonacci support) would shift the outlook and weaken the bullish structure.

Res: 3.5000; 3.5465; 3.6428; 3.6653
Sup: 3.4020; 3.3577; 3.3000; 3.2506