XRP Elliott Wave Check: Wave 3 Confirmation Needed Before $15-$31 Rally

⬤ Current price action reflects a corrective Wave 2 phase that remains technically valid. The move stays corrective rather than impulsive until a structural reclaim of the prior high occurs on the weekly timeframe. For context on why the broader structure still holds, bullish wave structure remains intact above macro support covers the long-term channel preservation thesis in detail.

⬤ Wave 1 delivered a powerful multi-hundred-percent expansion that respected the upper boundary of the macro channel. The current pullback fits within typical Wave 2 retracement zones - usually 50% to 61.8%, though deeper retracements are common in crypto. Price has not broken the broader channel, so there is no structural invalidation of the bullish count on the table yet.

⬤ Once XRP reclaims its prior high on a weekly basis, Fibonacci extension targets could open the door to serious upside expansion. The Elliott Wave projection points toward extended upside targets breakdown shows how impulse waves typically expand after corrective phases resolve - and the $15-$31 range sits within those projection zones.

⬤ The core message is discipline. XRP may be approaching the end of Wave 2, but confirmation is non-negotiable. Without a structural reclaim, price action remains part of a correction inside the established channel. That same principle is reinforced in macro channel breakout required before impulse continuation - confirmation must come before any wave labeling, not the other way around.