XRP Keeps Its Overall Bullish Layout Even Amid a Larger Pullback

crypthub

about 3 hours ago

Price Action and Macro Trend

XRP kept its higher‑timeframe bullish layout despite a deeper pull‑back. Prices fell lower than the expected diagonal but did not close beneath the critical HTF support. The move is seen as a consolidation within an ongoing uptrend, not a trend reversal. As long as the HTF level holds, the bullish framework stays intact.

Corrective Wave Structure

Analyst Hov re‑rated the short‑term pattern to a sideways combination correction inside a larger Wave 4. The decline reached the 50 % retracement, adding confluence for a mature correction. A clean micro five‑wave structure has already formed from the low, showing strength that many altcoins lack. A decisive five‑wave advance toward $2 would confirm a durable low.

Future Outlook and Key Levels

The 200‑week moving average remains the pivotal gauge; staying above it preserves the macro uptrend. Historical cycles show a sustained bear market only after breaking below this line, which has not happened. Continued consolidation above the long‑term average keeps the outlook technically positive. Monitoring for a wave‑3 retracement after a Wave 5 rise will indicate whether the market stays on the upside path.