Usman Salis
⬤ XRP is pushing higher after bouncing sharply from the 0.618 Fibonacci retracement level near 1.99, a zone traders often watch for potential reversals during corrections. The recent price action suggests the corrective A-B-C wave structure has wrapped up, with the asset now attempting to build a fresh impulsive move toward the weekly high. The chart shows a clean five-wave decline into the C-wave low, followed by an immediate bounce that signals selling pressure may be exhausted.
⬤ The token is now working to reclaim the 2.10 consolidation zone marked on the chart. A sustained break above this area would strengthen the case for continued upside momentum. The projected path points toward the 2.26 to 2.28 region, which aligns with the previous weekly high and represents the next significant resistance. XRP's ability to hold above short-term moving averages indicates buyers are starting to take control again after the recent pullback.
⬤ While XRP hasn't confirmed a complete higher timeframe reversal yet, the bounce from 1.99 combined with the break of local trend levels shows a shift in short-term sentiment. The wave count structure and momentum indicators both support the idea that the correction has likely run its course. If XRP can maintain follow-through above reclaimed zones, the path toward 2.26 remains open. However, failing to hold momentum could bring corrective risks back into play, so monitoring intraday structure remains important for confirming the next directional move.
Usman Salis
