#XRPETF XRP is trading around $0.52 and is going through a critical consolidation phase. According to Elliott wave analysis, the asset may have completed a corrective ABC structure after reaching a local maximum of $0.74. Currently, if it maintains support at $0.48, it could initiate a new upward impulsive wave, with targets close to $0.60 and $0.70 in the short to medium term. The validation of this scenario requires higher buying volume and breaking through intermediate resistances. If it loses the mentioned support, XRP could retrace to $0.42 or even $0.38. Additionally, Ripple's legal process against the SEC continues to influence XRP's volatility: a favorable resolution could act as a bullish catalyst. Technically, the market structure still favors accumulation as long as key supports are respected, but a high level of uncertainty persists. The upcoming legal and macroeconomic movements will be decisive for its future trend.
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