XRP Set To Explode—But Only After This Plunge, | Crypto News
XRP could also be on the verge of a main upside breakout—but only after what crypto analyst Quantum Ascent describes as a essential and non permanent correction. In a new video evaluation printed on May 28, the seasoned trader warned that a drop toward the $2.13 degree seems more and more seemingly, but emphasised that such a transfer suits within a bigger bullish Elliott Wave construction and wouldn’t invalidate the macro setup.
XRP Set To Plunge Before Exploding Higher?
“I said $2.71 was on deck—and we hit $2.66,” Quantum Ascent recalled, referencing a prediction made earlier in May. “I was five cents off. But now, it looks like we’re in a bit of a correction. I’m a little thrown off by the wave count here.”
The confusion, he defined, stems from the construction of what seems to be a accomplished five-wave transfer. While the third wave in an Elliott Wave sample is usually the longest, the analyst famous inconsistencies in the present formation that warrant a deeper technical review. Still, the general construction—notably on the weekly chart—stays intact.
“You can see one-two-three-four-five on the weekly,” he stated. “That’s printing a macro one-two. And the third wave should get us going here out of this area.”
Zooming into the 12-hour and each day timeframes, Quantum Ascent pointed to an ABC corrective sample now seemingly unfolding, with the C wave projected to equal the A wave in size. According to his measurement, this factors to a draw back goal of $2.12–$2.13, which aligns with the 0.5 Fibonacci retracement degree drawn from the earlier impulse wave and also coincides with the fourth wave of the prior transfer—typically a zone of sturdy help.
“For me, that looks really good as a spot for us to kind of chill out. Maybe consolidate sideways a little bit,” he stated. “But I do expect the next move to be up.”
He was adamant that a breakdown below $2.13 wouldn’t represent a structural failure: “I find it really hard to think XRP’s gonna go below $2 here on this move. It could technically—and still nothing would be broken. We’re still just looking for a one-two, and the two could come down here if it wanted.”
Quantum Ascent also highlighted XRP’s comparative power relative to the broader crypto market, noting that it had not too long ago set a greater high earlier than most altcoins. “Structurally on the larger time frame, XRP is holding up a lot stronger than the rest of the market.”
The analyst, who disclosed that he initially purchased XRP around $0.50 and bought a massive portion above $3, stated he stays long-term bullish and continues to maintain XRP as a core half of his portfolio. “This thing has been good to me,” he stated. “Again, I see a drop down temporarily—but it’s just that. It’s temporary.”
For now, all eyes stay on the $2.13 degree. If XRP holds that zone and confirms help, Quantum Ascent believes a new bullish wave 4 may soon start—one that takes the token above the $2.80 mark.
At press time, XRP traded at $2.29.
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