Fib 1.618 Holds Strong: Is XRP Ready for Double Digits?

• XRP’s Fib 1.618 level is a crucial support for price stability.
• A strong Wave 5 setup could trigger a rally to double-digit prices.
• Losing key support may lead to deeper XRP price correction.

Ripple (XRP) investors are closely watching the Fib 1.618. This Fibonacci retracement level from the previous cycle has acted as a strong support for years. Losing this price level could be disastrous for XRP’s price. 

On the other hand, XRP might be setting up for a major rally if this level holds strong. Some believe this could finally push XRP into double-digit territory.

XRP’s Journey to MACRO Wave 5

Since 2017, XRP has been retracing within MACRO Wave 4, consolidating after the last big cycle. This extended period of price stagnation has tested the patience of many investors. 

However, a setup for MACRO Wave 5 is now forming. In Elliott Wave theory, Wave 5 often leads to explosive gains. If the price of XRP stays above the Fib 1.618, a big rally could be on the horizon.

Technical analysts are watching the monthly chart closely. Losing this key support could send XRP into a deeper correction. If the stars align and Wave 5 kicks off, XRP could finally climb into double digits. 

Is a Double-Digit XRP Possible?

More than just technical support will be needed for XRP to hit double digits. Strong market momentum and bullish sentiment across the crypto space are crucial. 

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Despite challenges, including ongoing regulatory issues, the price of XRP has shown resilience. The Fib 1.618 level is a crucial point that could pave the way for a big rally.

If XRP holds this support and Wave 5 unfolds as expected, the token’s price might smash through its previous all-time highs. The next few months could be pivotal. Will XRP finally break out into double digits? Only time will tell, but the signs are promising.