$XRP potentially on the verge of a major bullish surge, but only after what the cryptocurrency analyst Quantum Ascent describes as a necessary and temporary correction. In a new video analysis published on May 28, the experienced trader warned that a drop towards the $2.13 level seems increasingly likely, but emphasized that such a move fits within a larger bullish Elliott Wave structure and would not invalidate the macro setup.

Is XRP ready to crash before exploding upward?

“I said $2.71 was on the way, and we got to $2.66,” Quantum Ascent recalled, referring to a prediction made in early May. “I was five cents off. But now, it seems like we are in a small correction. I’m a bit puzzled by the wave count here.”

The confusion, he explained, comes from the structure of what appears to be a completed five-wave move. While the third wave in an Elliott Wave pattern is usually the longest, the analyst noted inconsistencies in the current formation that warrant a deeper technical review. Still, the overall structure, particularly on the weekly chart, remains intact.

“You can see one-two-three-four-five on the weekly chart,” he said. “That is printing a macro one-two. And the third wave should get us moving from this area.”

Expanding the 12-hour and daily timeframes, Quantum Ascent pointed out a corrective ABC pattern that is likely developing, with wave C projected to equal the length of wave A. According to his measurement, this points to a bearish target of $2.12–$2.13, which aligns with the 0.5 Fibonacci retracement level drawn from the previous impulsive wave and also coincides with the fourth wave of the previous move, often a zone of strong support.

“For me, that looks really good as a place to relax a bit. Maybe consolidate sideways a little,” he said. “But I do expect the next move to be upward.”

He was adamant that a break below $2.13 would not constitute a structural failure:

“I find it really hard to think that XRP is going to drop below $2 in this move. Technically it could, and still nothing would break. We are still looking for a one-two, and the two could drop here if it wanted.”

Quantum Ascent also highlighted the comparative strength of XRP relative to the cryptocurrency market as a whole, noting that it had recently set a higher high before most altcoins. “Structurally on the broader timeframe, XRP remains much stronger than the rest of the market.”

The analyst, who revealed that he originally bought XRP around $0.50 and sold a large portion above $3, said he remains bullish long-term and continues to hold XRP as a core part of his portfolio. “This thing has been good for me,” he said.

“Once again, I see a temporary drop, but that’s all it is. It’s temporary.”

For now, all eyes are on the $2.13 level. If XRP holds that zone and confirms support, Quantum Ascent believes that a new bullish wave 4 could begin soon, one that takes the token above the $2.80 mark.

At the time of this writing, XRP was trading at $2.29.

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