Analyst to XRP Holders: Is This the Crypto Move We’ve Been Waiting 4 Months For?

XRP has reached a critical stage in its current market structure, according to crypto analyst CasiTrades. After months of monitoring the setup, she now believes the asset is entering the most important phase of its correction, with price action breaking below a major support level and approaching a key area that could determine the next major move.

In her post, CasiTrades said the market is “finally getting to the important part” after waiting four months for the structure to develop. The accompanying chart outlines an Elliott Wave scenario, noting a possible decline toward $0.92 and $0.87 before a larger recovery attempt begins.

XRP Enters Strongest Phase of the Decline

CasiTrades noted that XRP appears to be developing a Wave 3 decline. Within Elliott Wave theory, Wave 3 often delivers the strongest momentum of a corrective sequence.

The analyst explained that recent price action has helped clarify whether XRP would target $1.10 or $0.87 as the main support area. Based on the latest move, the chart now favors a deeper decline.

The chart shows XRP breaking below a long-standing ascending support trendline while trading near $1.17. Converging trendlines that previously contained the asset have also given way, reinforcing the bearish wave count presented in the analysis.

Why $0.92 Stands Out

A major focus of the chart is the 1.618 Fibonacci extension level near $0.92. According to CasiTrades, this level aligns closely with the larger support around $0.87 that has remained in focus for months.

The chart highlights additional Fibonacci levels throughout the decline. One projected path shows XRP falling toward the $0.92 region before finding support. A large green demand zone also sits below current prices, stretching across $0.87 and $1.10.

At the same time, the RSI on the 4-hour chart has fallen toward oversold territory. That setup often accompanies periods when sellers begin losing momentum.

What the Chart Suggests Next

CasiTrades expects a three-step sequence to play out. The first move targets approximately $0.92. The second move involves a relief rally back toward $1.20. The final move would then test the major $0.87 support area.

The analyst also identified a scenario that could accelerate a recovery. If buyers respond aggressively after a Wave 3 low, XRP may not require the final decline toward $0.87.

The key signal would be a decisive recovery above the resistance level. CasiTrades said the first sign of strength would emerge if XRP reclaims resistance levels and convincingly breaks above $1.30.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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