The Trust Layer for Market Analysts

The analysis focuses on the XRPUSD pair, interpreting recent price action within an Elliott Wave framework on a 1-hour timeframe. The market initiated a three-wave pullback, identified as a corrective movement. This short-term pullback is expected to find support within a micro zone ranging from $1.81 to $1.88, with an ideal target between $1.86 and $1.84 for the completion of orange wave 2 or yellow wave B. Subsequently, a larger corrective rally, labeled yellow wave C, is anticipated to emerge from this support region. This rally is projected to target a resistance zone between $2.01 and $2.08. The bullish short-term perspective remains valid as long as the price sustains above $1.81. Should the market fail to decisively break above the $2.01-$2.08 resistance zone after the pullback, a rejection is likely, potentially leading to a fifth wave decline towards the $1.67-$1.76 area, constituting a larger degree wave two. The formation of a clear five-wave impulse upward from the current pullback's low would signal a more meaningful low has been established. The internal structure of the next upward move will be critical in confirming the precise wave count.