What to know:
- XRP bounce ends as analyst predicts strong Wave 3 decline
- Key Fibonacci rejection signals downside momentum building toward $1.09 level
- Bearish structure holds firm despite short-term price fluctuations and volatility
Crypto analyst CasiTrades has pointed to a notable shift in XRP’s price structure following its recent rebound. In a post shared on X, the analyst explained that XRP’s upward move reached a key Fibonacci retracement level before losing momentum.
XRP Structure Signals End of Corrective Bounce
XRP trading activity turned cautious after the latest rebound failed to extend beyond key resistance levels. Price movements over recent sessions indicate that the recovery phase may have concluded, while technical structures now point toward renewed downside pressure across the market.
According to CasiTrades, XRP completed its corrective move after reaching the 0.618 Fibonacci retracement level near $1.37. This level often marks the end of temporary rebounds within a broader trend. Consequently, the analyst stated that the bounce is now over and a larger downward move is likely to follow.
Moreover, XRP continues to trade within a descending channel, where each rally has struggled to break resistance. This structure reflects sustained selling pressure, as lower highs continue to form across multiple timeframes. Additionally, recent price action invalidated smaller bullish subwave patterns, which further weakens the short-term outlook.
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At the same time, momentum indicators offer limited support for a sustained recovery. The Relative Strength Index remains below strong bullish territory, suggesting that buyers have not regained control. Therefore, the broader structure continues to favor a continuation of the prevailing downtrend.
What Comes Next as XRP Enters Critical Wave 3 Phase
According to the analyst’s breakdown, XRP has likely completed its Wave 2 correction, which typically precedes a stronger impulsive move. This development places the market at the beginning of a Wave 3 decline, which often unfolds with increasing momentum and wider price swings.
CasiTrades noted that XRP may decline toward the $1.09 level as part of this Wave 3 progression. This target aligns with previous support zones and reflects a measured extension of the current bearish structure. Furthermore, the analyst expects the move to accelerate as selling pressure builds across the market.
Beyond that, the chart outlines a deeper downside scenario toward the $0.85 region. This zone represents a broader demand area where buyers previously entered positions. Hence, it could act as a temporary support level if the decline extends further.
Additionally, the rejection at the 0.618 retracement reinforces the bearish outlook, as such levels often signal the end of corrective phases. Meanwhile, the larger market structure remains unchanged despite short-term fluctuations, keeping the focus on continued downside risk.
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