Top Analyst Says The XRP Destination Hasn’t Changed. Here’s What This Means

XRP is approaching a critical stage in its ongoing correction, with analyst CasiTrades (@CasiTrades) outlining two possible short-term paths while maintaining the same larger downside target.

As the price approaches a major Fibonacci support level, the analyst believes the final stages of the corrective move could be nearing completion.

In a recent analysis, CasiTrades said XRP is making a new local low and heading back toward the major 0.786 Fibonacci support at $1.09. While recent price action has altered the lower timeframe structure, the analyst stressed that “the final destination hasn’t changed.”

Focus Remains on $1.09 and $0.87

According to CasiTrades, two levels remain the primary focus during the current correction. The first is the 0.786 Fibonacci retracement at $1.09. The second is the deeper 0.854 retracement level near $0.87.

The analyst stated that XRP has not yet tested the $1.09 support in the red scenario shown on the chart. This distinction is important because the projected move depends on how its price reacts when it reaches that area.

The chart shows XRP trading near $1.10 after a sustained decline since the start of the month. Fibonacci levels at $1.111, $1.135, $1.165, and $1.189 sit above the current price and could become important during any relief rally.

Two Elliott Wave Scenarios Take Shape

The first Elliott Wave scenario assumes Wave 2 has already completed. XRP could move directly toward the $0.87 macro target without a larger bounce. CasiTrades noted this would be unusual, as the correction only hit a 0.236 retracement, though recent markets have produced shorter Wave 2 paths.

The second scenario sees XRP finding support near $1.09 before recovering to roughly $1.18. A larger Wave 3 decline then follows, reaching the same $0.87 target. Both paths lead to the same destination.

Bullish Divergence Emerges Near Support

CasiTrades also noted XRP is attempting to build a bullish divergence on the 1-hour chart near $1.09 support. The RSI sits close to oversold territory, supporting that observation. She noted that further testing could be needed as the asset has not touched the support level.

The second chart projects an RSI recovery alongside a potential rebound from the green support zone. If buyers defend the area, XRP could stage a temporary recovery before the next major move.

CasiTrades remains focused on the same macro levels. XRP trades just above 0.786 Fibonacci support, with attention on whether it rebounds toward $1.18 or heads directly to $0.87.

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.

Follow us on X, Facebook, Telegram, and  Google News

The post Top Analyst Says The XRP Destination Hasn’t Changed. Here’s What This Means appeared first on Times Tabloid.