Analysis based on the 4-day XRP chart, exploring both the continuation of bullish trends and the potential for long-term corrections.

Main golden scenario: One more peak before a larger correction for XRP.

The main structure tracked by MCO, known as the "golden scenario", indicates that XRP is completing a five-wave Elliott cycle starting from the low in 2013. In this scenario:

  • Waves 1 to 3 have been completed.

  • Wave 4 is forming a triangle.

  • Wave 5 is expected to push XRP to a new all-time high (ATH).

According to Elliott Wave theory, completing a five-wave pattern from a macro low often signals the beginning of a significant correction. In this case, MCO suggests a potential pullback to the $0.40–$0.50 area—roughly where Wave 4 previously formed.

While some may doubt the likelihood of such a decline, history has shown precedent. After peaking near $3.40 in 2017, XRP fell to $0.11, emphasizing that strong corrections are part of the cryptocurrency market cycle.

Despite the recent bearish move, MCO still believes that the current pullback lacks the strength and structure to confirm a macro peak. Therefore, the analyst continues to support the idea of a final price push upward.

Alternative white scenario: A bullish market beginning in 2020.

The "white scenarios" alternative interprets the current structure of XRP differently. Instead of ending a macro bullish cycle, this model assumes that the bullish market only began in 2020. The implications are:

The current move is part of a larger third wave.

  • Two more waves (4 and 5) are still expected to complete the cycle.

  • The correction will still take place, but may be less severe than the yellow scenario.

The correction, when it occurs, may align with the timing and scale of the previous wave two correction, possibly taking up to a year to unfold. MCO classifies this scenario as unlikely but still within the realm of possibility.

Short-term structure and key levels for XRP.

Zooming into shorter time frames, MCO observes that a five-wave structure is developing from the low in April. However, the pattern is not clearly defined and the bullish momentum appears limited. While XRP continues to make higher highs and lower lows, the market remains in a quite fragile state.

Key price levels to watch include:

  • $2.12 (Wednesday's low) – Holding above this level will maintain a bullish outlook, with a potential target in the $5.00–$6.60 range.

  • A drop below $2.12 could trigger a broader wave B correction, targeting the support area of $1.84–$2.01.

Conclusion

The outlook for XRP remains constructive in both scenarios, with an additional bullish push expected before a larger correction. Whether XRP completes the full macro five-wave structure or continues its more recent bullish cycle, this asset appears ready for a bullish move in the near future.

However, investors should prepare for eventual volatility and the possibility of a pullback. As always, being aware of key support levels and wave developments is crucial for risk management and identifying trading opportunities. For more detailed information, viewers can follow More Crypto Online on YouTube, where technical updates and wave counts are regularly shared.