XRP's Current Market Performance
XRP continues to hold strong despite the recent market-wide downturn, demonstrating exceptional stability in an otherwise volatile environment. According to HovWaves, XRP remains up by approximately 40% since reaching a key support level, defying broader market trends.
The asset’s resilience signals a promising outlook, although caution remains as the latest upward move is seen as part of a three-wave pattern, hinting at potential consolidation before a more substantial breakout.
The current market analysis reveals that XRP has been moving through an intricate wave structure. The latest rally off the low appears incomplete, suggesting a possible short-term dip before it embarks on its next major upward leg.
However, HovWaves remains confident that the price will not revisit the previous low of $1.58. Instead, the analyst predicts a truncation in the ongoing move, which could accelerate XRP’s rally once the pullback completes.
Key Price Targets for XRP
Looking ahead, the first major target for XRP is a price point around $5.5. This is based on the asset’s performance and broader market indicators, suggesting that a breakthrough past this target could set the stage for further gains. However, a crucial resistance lies at $2.94, with a high-time-frame (HTF) close above this level being identified as pivotal for the next bullish move.
$XRP
XRP Holding up exceptionally well on this market wide sell off
Still up 40% off our level (threaded)
That said, the last move off the low is only 3 waved so far so we might get one more small low on the micro before it's all said and done
BUT I don't think it takes out… pic.twitter.com/wxpirGnZMg
— Hov (@HovWaves) November 6, 2025
In terms of liquidity, HovWaves pointed out the importance of a liquidity event, likely referring to a wick seen in recent price action, that could signal the conclusion of the current wave and the start of an explosive rally. Given the strength shown by XRP so far, investors remain optimistic about its potential in the short-to-medium term.
XRP's Market Position and Outlook
Despite broader market challenges, XRP has maintained its position within the crypto space, reflecting the asset’s unique market dynamics. With continued upward momentum, XRP’s performance is becoming one of the standout narratives in the crypto market. As the price structure evolves, traders and investors alike will keep a close eye on key levels to watch for signs of continuation or reversal.