XRP Expected to Drop to $2.13 Before Potential Upside Surge

XRP is potentially facing a temporary correction before a significant upward movement, as analyzed by crypto analyst Quantum Ascent. He suggests a drop to the $2.13 level is likely but fits within a larger bullish Elliott Wave structure.

Key Analysis Points

The anticipated correction could see XRP decline toward $2.13, aligning with technical patterns.
Quantum Ascent previously predicted a rise to $2.71, hitting $2.66, indicating accurate forecasting.
Current market structure shows a completed five-wave move, though inconsistencies warrant further analysis.
An ABC corrective pattern is developing, with the C wave expected to match the length of the A wave.
A downside target of $2.12–$2.13 aligns with Fibonacci retracement levels and previous strong support.
A breakdown below $2.13 would not indicate structural failure; XRP may still hold above $2.
XRP has shown relative strength compared to the broader crypto market, recently achieving higher highs.
Quantum Ascent remains long-term bullish on XRP, viewing any potential drop as temporary.
If XRP maintains support at $2.13, a new bullish wave could push it above $2.80.

As of now, XRP is trading at $2.29.