The analysis discusses XRPUSD. The current price is around $3.29. The analyst believes XRP is underperforming due to extreme resistance at the $3.40 level. There was a pullback from a swing high on August 8th, with the pullback being a three-wave move landing at $3.11, a 38.2% retracement. According to the video a clear three-wave move down can be identified and explained this C wave reached the 100% extension of the A wave. The pullback might be over. It does not guarantee an immediate break above $3.40.The presenter considers the possibility of an ending diagonal pattern.The analyst suggests a potential roadmap with a wave 4 retest from above, leading to a wave 5 target area between $3.80 and $4.30. A deeper pullback is not ruled out, which could occur within the same scenario. $2.85 is mentioned as support level. If the price breaks support the analyst has to focus on a more bearish interpretation. If the $3.40 resistance is broken, the analyst believe the C wave should reach the $3.63 area. Higher prices are expected against $2.85.