XRPUSD staged a bullish correction on the H1 chart but faces resistance near $2.93. Traders are watching this level closely for clues on the token’s next intraday move.

Crypto analyst warns that XRP could see significant gains or steep losses, depending on key support levels. Sustained support may fuel a rally, while a breakdown could trigger a sharp correction. Toncoin is also flagged for potential upside.

XRP Faces Binary Outlook: Rally or Correction Ahead

In a new technical analysis, CoinsKid outlines a pivotal scenario for XRP, currently trading near $2.90. The analyst’s primary projection is bullish, with a minimum price target of $4.13, described as a potential “fifth wave” in the current market cycle.

Read More: XRP Is Falling, But This Crypto Analyst’s New Price Prediction Suggests 1,000% Surge.

Short-term momentum depends on XRP holding above the Bull Market Support Band around $2.66, while the broader bullish thesis hinges on defending $1.91. A break below that level would likely trigger a “macro correction.”

The report also notes that a surge above $4 could create a “whopping bearish divergence” on weekly charts, potentially leading to a pullback.