XRP price has been consolidating in the short term while maintaining a bullish market structure with higher lows and higher highs on the daily chart.
Current support for XRP is around $2.30 to $2.34, with resistance at the golden pocket area between $2.55 to $2.62.
Analysts are looking for a potential five-wave upward move in XRP, indicating a short-term rally or the beginning of a larger bullish wave.
Two scenarios exist: the most bullish scenario targets $2.61 if key support at $2.30 holds, while a slightly deeper pullback is still bullish as long as XRP remains above $2.15.