The Trust Layer for Market Analysts

XRP has reached a critical support level at $1.55, which aligns with Fibonacci retracement levels. The current price action suggests a potential for a bounce, but the larger trend remains bearish. The analysis also considers a complex correction pattern, with wave 'y' potentially forming a five-wave move. Key resistance levels to watch for are $1.64, $1.77, $1.81, $1.90, and $2.00. A break above these levels, particularly the green resistance line at $1.90, would indicate a shift in momentum. The overall outlook for XRP remains cautious, with a focus on upcoming price action to confirm the continuation or reversal of the current trend.