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XRP has surged past recent resistance with impressive momentum, signaling strength in the current rally. However, the real challenge now lies at the $2.41 cost-basis zone, a key area where a significant amount of XRP was previously accumulated. How price reacts here will likely dictate whether bulls can maintain control and push toward higher targets, or if selling pressure creates a temporary pause or pullback.
XRP Approaches A Critical Cost-Basis Resistance At $2.41
According to a recent update from Steph Is Crypto, XRP is now at a pivotal crossroads, with price action increasingly centered around the $2.41 level. This zone stands out as a major cost-basis wall where several technical and on-chain signals align, making it a decisive area in determining whether the current rally can extend or begin to stall.
Related Reading: XRP Enters A Make-or-Break Zone As This Long-Term Support Cracks
The cost-basis distribution heatmap highlights the $2.41 region as a dense supply cluster. Cost basis represents the price levels at which tokens were previously acquired. When the price returns to these areas, they often attract heightened trading activity.
On-chain data shows that between $2.39 and $2.41, roughly 1.56 billion XRP were accumulated. Many holders who bought in this range may look to exit positions to break even as the price revisits the zone, introducing selling pressure and reinforcing the area as resistance.
This dynamic is also reflected in the XRP price chart, which shows repeated hesitation and multiple rejections around the same level. The alignment between on-chain supply data and technical price action suggests that $2.41 is an important level that XRP must overcome decisively to unlock the next leg higher.
Wave 3 Breaks Out Above The 2.618 Extension With Strong Momentum
Tara revealed that XRP’s Wave 3 has delivered a powerful breakout, pushing beyond the 2.618 Fibonacci extension and clearing the macro resistance at $2.30. This move was accompanied by a strong RSI reading, signaling strength behind the advance.
Related Reading: XRP Price May Be Bearish Below $2, But On-Chain Data Tells A Different Story
With Wave 3 extending higher, Tara identified $2.49 as the next key upside target, which aligns with the 0.618 Fibonacci extension of the fifth wave. Despite the strength of the move, Tara advised preparing for a short-term pullback. A brief retracement could allow the RSI to cool off, creating healthier conditions for the next leg higher and potentially setting up a clearer divergence on a renewed push.
As long as XRP remains above the macro 0.236 Fibonacci level, the broader bullish structure stays intact. Tara is closely monitoring lower-timeframe support zones, marked in green, while continuing to track the move as a developing Wave 1/3 impulse.
Featured image from Adobe Stock, chart from Tradingview.com
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