XRP is preserving its macro bullish structure despite a more significant corrective move than anticipated. While testing lower price levels, the cryptocurrency has not confirmed a higher-timeframe breakdown, indicating the pullback is likely part of a broader consolidation within an ongoing uptrend.
XRP's price action has dipped closer to recent lows, prompting a reassessment of short-term market structure. However, the broader setup has not entirely collapsed. Crucially, XRP has yet to close decisively below a critical support level on a higher timeframe. As long as a clear breakdown is avoided, the overarching bullish structure remains intact.
Analysts have adjusted the corrective count, interpreting the current movement as a sideways combination correction within a larger Wave 4. The pullback precisely touched the 50% retracement level, reinforcing the view that this could be a mature corrective phase. A key indicator to watch is a clear five-wave advance from the recent low. XRP has already demonstrated a distinct micro five-wave structure from the bottom, a sign of relative strength compared to many other altcoins.
A sustained move towards the $2 region, confirmed as a Wave 5, would bolster confidence in a durable low. Following this, a controlled retracement into support would signal market readiness for continuation rather than a deeper decline.
Technically, XRP remains bullish. While momentum has cooled, the underlying trend is constructive. The 200-week moving average serves as a vital long-term indicator; holding above it keeps the macro uptrend intact. Historically, sustained bearish phases often commence after a decisive break below this level, which has not occurred.
Currently, XRP appears to be consolidating within a bullish framework, favoring upside continuation. Trend dynamics have not shifted, and until major support is breached, the long-term outlook remains technically positive.