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Over the weekend, $XRP gave us a perfect touch of the macro .5 support at $2.03. Exactly the level I’ve been waiting for! 🎯 That touch has now produced bullish divergences, which sets the conditions for a bounce. From here, I’m expecting a move up toward ~$2.26 to complete a subwave 2.
What's Next?
This next wave up is critical. If it stays corrective, we could see a sharp rejection that sends $XRP into a subwave 3 down, ultimately breaking the .5 support and targeting the $1.65 macro support I’ve been watching.⏬
📉 Bearish Scenario: Break below $2.03 support → targets $1.65
📈 Bullish Scenario: Break above $2.41 → invalidates downside scenario
Key Levels to Watch
- Support: $2.03 (current), $1.65 (macro)
- Resistance: $2.26 (subwave 2 target), $2.41 (key resistance)
Trading Strategy
SL should be set right below the $2.03 support. I’ll be watching how this wave develops. Whether it breaks down as a corrective ABC structure (typical for a Wave 2) or starts to look impulsive. A double top at $2.41 would still fit the corrective case.
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$XRP