XRP Holds Key Levels Amid Corrective Pullback
- XRP has been trading above $1.40, with a recent price of $1.47.
- The key support level is $1.38, crucial for maintaining the current wave count.
- Resistance is expected at $1.51, with further targets at $1.59 and $1.67.
- The decline from May’s high follows an ABC corrective structure rather than a trend reversal.
XRP’s recent price action indicates a corrective pullback rather than a trend reversal, as suggested by its ABC wave structure on the market charts. Holding above the key support level of $1.38 is essential to maintain bullish momentum.
A sustained move above the resistance at $1.51 could signal the end of the pullback and initiate another rally phase for XRP, potentially reaching targets up to $1.76 based on Elliott Wave analysis.
