On the attached XRP/USD Bitstamp daily chart, Wave A represents the first counter-trend decline after the broader breakout phase. Wave B then advanced in a deceptive expansion, briefly breaching prior structure and trapping late buyers at elevated levels. That overconfidence phase is now unwinding through the developing Wave C leg.
Volatility First, Bullish Resolution LaterDespite near-term disorder, the cycle thesis remains intact. Once Wave C finalizes, the analyst projects a new impulsive advance using Fibonacci extensions and prior pivot structures, mapping upside targets into the $20 to $30 range—zones where profit-taking and reassessment would occur.
The takeaway from this breakdown is simple: XRP’s price correction reflects emotional unwinding within a bullish macro trend, and prioritizing structure over sentiment separates reactive trading from cycle-level positioning.
