XRP Just Hit A Golden Pocket, Relief Bounce Puts Price At $2.5

XRP is showing potential for a bullish reversal after reaching a Golden Pocket, according to analysts. A Golden Pocket often signals a strong upward move, possibly leading XRP to $2.50. The analyst CasiTrades anticipates a "W4 relief bounce" which could facilitate this rally. Her Elliot Wave analysis shows XRP touched the Golden Pocket near the 0.618 Fibonacci level around $1.93. The alignment with the 1.618 Extension for Wave 3 is considered a textbook move. This sets the stage for a Wave 4 relief bounce and the first resistance level is at $1.78. The shallow Wave 2 correction suggests a deeper Wave 4 retracement before the upward trend continues, potentially reaching $1.93. XRP could also climb to $2.03, which is the macro 0.5 retracement level. The analyst highlights $2.03 as a crucial level to hold for confirmation of the upward trend, which, if maintained as support, would prevent further declines. The analyst acknowledges that the bullish outlook remains speculative. If support fails, a potential 8% decline to around $1.47 is predicted. The bullish scenario is confirmed only when XRP breaks through the key resistance level.