The analysis for XRPUSD on the 1-hour timeframe identifies key support around $2.65, suggesting that holding above this level is crucial for maintaining a bullish outlook. A break below $2.65 would be problematic. Resistance is noted at $2.90 and $2.78, with a significant barrier at $3.40. A breakout above $3.40 is needed for further price increases, while the risk of further downside remains high due to recent rallies not displaying five-wave movements. Until a five-wave move is identified with the break of the resistance at $3.40, there will remain the chance of downward movement towards $2.46 and then $2.20. If a 5 wave movement is not identified it's a range market.