XRP has reached a crucial juncture as a wave structure traders have tracked for months finally comes into focus. Volatility is picking up and key price levels are being tested — the next moves could reveal whether XRP is carving out a bottom or preparing for one more leg down before a sustained recovery.
What’s happening now
Analyst CasiTrades says the market is showing the selling pressure many expected, and XRP has started to break below a significant support level. That development suggests the current correction may be entering a more decisive phase.
Why traders are watching Elliott Wave signals
CasiTrades has been following the development of smaller subwaves to determine whether XRP’s ultimate downside target will be around $1.10 or near the longer-discussed $0.87 support zone. Based on the current structure, the analyst interprets the decline as a subwave 3 — typically the strongest and fastest portion of an Elliott Wave correction — which often accelerates downside momentum toward major supports.
Fib projection and nearby targets
Technical projections add weight to the view of further near-term weakness. The 1.618 Fibonacci extension of the current move points to roughly $0.92, a level that sits just above the $0.87 zone and could act as the first meaningful landing point for sellers.
The likely roadmap
CasiTrades outlines a three-phase path for XRP:
- An initial drop toward about $0.92.
- A relief bounce back to roughly $1.20, expected to act as resistance.
- One final downward leg to test the $0.87 support area.
Alternative scenario to watch
Markets rarely follow textbook patterns perfectly. If the bounce from the W3 low shows significant strength, XRP might skip that final leg. A clear reclaim of key resistance — notably a decisive break above $1.30 — would be the earliest signal that the final test of $0.87 may not be necessary.
Bottom line
After roughly four months of tracking this structure, CasiTrades says we’re entering the most critical phase. Traders will be watching the $0.92–$0.87 region and any reclaim of resistance around $1.20–$1.30 for clues about whether the correction is ending or has more room to run.
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