$XRP continues to hold above its critical August low, keeping the bullish scenario alive, though the structure remains questionable. Let’s break it down 👇

🔑 Key Takeaways

Support is still intact above the August low.

Upside move remains weak, as the recent bounce only formed in three waves.

A break above $3.40 is needed to confirm further upside momentum.

First warning sign of weakness would be a break below $2.74 (50% retracement).

Next major support zones: $2.72 and $2.66.

As long as the August low holds, the yellow bullish scenario stays valid.

📊 Shorter Time Frame Analysis

XRP is still ranging with no decisive breakout.

Pullbacks remain corrective in nature (three-wave structures).

The recent local bounce shows weakness, as price failed to hold short-term support.

Bulls need to overcome swing highs for upside targets at $3.16, $3.24, and $3.29.

⚠️ Scenarios to Watch

✅ Preferred Scenario (Bullish)

XRP grinds higher in a 1-2 setup.

An internal 3rd wave rally could unfold, pushing the market higher toward $5+ in the longer term.

Requires a confirmed breakout above $3.40.

❌ Alternative Scenario (Bearish)

A deeper B-wave pullback becomes more likely if support at $2.72 / $2.66 fails.

Structure would shift toward a larger correction.