XRP Testing Key Support Zone – Potential Drop Toward $2.50 if ?

Aug 30

Analysis:
XRP is currently trading around $2.80, right at a critical support level. The chart highlights a 5-wave Elliott structure, with the recent wave (5) completing near resistance. Price action is now consolidating in a key demand zone around $2.80 – $2.90.

If the support holds, we could see a bullish reversal with potential upside toward $3.18 resistance.

However, if the support breaks, a sharp decline toward $2.50 is likely, as indicated by the downside projection arrow.

The 9-period SMA ($2.81) is also being tested, which adds to the short-term pressure.

📌 Conclusion: XRP is at a decision point — holding above support could fuel a bounce, but a breakdown signals further bearish momentum toward $2.50.

Sep 1

Trade active

I am going sell on xrp