XRP: Is a local pullback brewing for a bigger explosion? The bullish main trend continues!

Although there has been a short-term cooling, the overall structure of XRP remains in a strong upward channel. The daily level continues to produce higher lows and higher highs, which is the most valued signal for trend traders!

Key support: $2.30 - $2.34

Once it falls below $2.30, the short-term may test the $2.10 - $2.15 range.

Main resistance: $2.55 - $2.62 (golden pocket area)

A breakout means a strong acceleration surge is about to come!

Two major scenarios to analyze future trends:

Orange scenario (strongly bullish):

The five-wave upward structure is initially formed. If the second wave high point holds above the May 19 low, subsequent third and fifth waves may push $2.52, $2.58, or even $2.61+ within reach!

Blue scenario (moderately bullish):

Even if there is a short-term pullback, as long as it does not break below the $2.15 support area, the bullish structure remains intact, and there is still space for a rebound to gather strength.

XRP is at a critical watershed. As long as it holds above $2.30, the dream continues. A breakout above $2.62 will trigger a new round of trending market.