XRP just broke below a critical support level. The $1.31 floor that held for weeks gave way, and the selloff accelerated. One well‑known analyst says this is only the beginning of the next leg down.
CasiTrades, a respected chartist on X who regularly delivers deep technical analysis on XRP, laid out a clear bearish roadmap. Her track record includes calling previous breakdowns and bounces with precision. This time, she sees a methodical decline unfolding in waves.
- XRP Chart Breakdown: From $1.31 to $1.05
- XRP Price Forecast: Relief Bounce Then Final Leg to $0.87
- Our Take
XRP Chart Breakdown: From $1.31 to $1.05
The chart CasiTrades shared shows XRP breaking below $1.31 support, a level she had flagged as critical. Once that level failed, momentum turned sharply lower. The breakdown was not a wick or a false break; price moved decisively through support, confirming the bearish structure.
According to her wave count, the current move is a subwave 3 down. The immediate target sits between $1.05 and $1.09. That zone coincides with the macro .786 Fibonacci retracement level, a deep retrace often associated with wave 3 extensions. In Elliott Wave terms, wave 3 is typically the longest and strongest leg of a move, so a drop to this range would fit the pattern.
Source: X/@CasiTrades
The chart shows price accelerating to the downside, with volume picking up. There is no sign of a bottom yet. RSI on lower timeframes is falling but not yet oversold, leaving room for more downside before any bounce.
XRP Price Forecast: Relief Bounce Then Final Leg to $0.87
CasiTrades does not expect a straight line down. After the $1.05–$1.09 zone, she predicts a wave 4 relief bounce. These bounces can be sharp and lure in buyers who think the bottom is in. But she warns that wave 4 is typically a correction within a larger downtrend, not a reversal.
Once that bounce completes, she expects one more wave down (wave 5) to finish the correction. The final target is $0.87, which aligns with the macro .854 Fibonacci level. That would represent a total drop of roughly 34 percent from the $1.31 breakdown level.
The chart marks $0.87 as a major support zone from previous cycles. If price reaches that area, it would complete a multi‑month correction and potentially set up a larger recovery.
Read also: Ripple CEO Reveals “Secret Sauce” for Corporate Crypto Adoption – XRP Sits at the Center
Our Take
CasiTrades is known for detailed, rule‑based analysis, and this count looks plausible. The break below $1.31 was clean, and the wave structure she describes follows standard Elliott principles. The $1.05–$1.09 zone is a logical first target, and $0.87 has acted as support in the past.
That said, wave counts can shift. If XRP reclaims $1.31 in the next few days, the bearish thesis weakens. Also, broader market conditions matter; if Bitcoin stabilizes or rallies, XRP could see a stronger bounce than expected.
For now, the path of least resistance appears lower. Traders should watch the $1.05–$1.09 zone for the first potential bounce, but treat any rally as a relief move unless key resistance levels flip. The $0.87 target is aggressive but not impossible given the current macro headwinds.
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