XRP price in recent days take a gentle curve, with the token now trading below $2 after failing to hold off on recent recovery efforts. That move changed the near-term momentum back to the merchants, especially as price action prints close below the short-term support that turns into highs.
A technical analysis shared by CoinsKid on X observes a broad correction structure developing on the 5-day chart, which could put XRP on a more pronounced bearish path if key price levels are not restored.
3-Wave Correction: Structure and Significance
Technical analysis of XRP price action since mid-2025 shows an interesting correction sequence that can be explained in terms of waves. According to CoinsKid, what appeared to start as a corrective development of the moving averages on the 5-day chart failed to sustain itself when resistance was met with a marked sell signal, shown in the chart image below.
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According to CoinsKid’s interpretation of the 5-day candlestick chart, XRP’s price action appears to be following a trend. a three-wave corrective movement. The importance of this interpretation lies in its premise that the most recent jump to $2.4 was not a true reversal back into bullish control but a retracement within a larger downward correction pattern that still has some moves to play.
An important point in the analysis is the loss of a custom indicator called the CoinsKid ribbon in a period of 5 days. This band of moving averages had previously served as a direction of trend strength for much of 2025, with continued trading above it pointing to bullish control. However, XRP has repeatedly closed below this ribbon since the flash crash in October 2025and merchants have maintained extensive structural control ever since.
XRP price chart. Source: @Coins_Kid on X
The Multi-Year Trendline as a Downside Magnet
The bearish trend shown on the chart places XRP’s next major area of interest near the rising multi-year support line, currently converging in the $1.30 to $1.40 range. This ascending white line, seen on the 5-day chart and going back to 2020, coincides with the areas where XRP found strong demand after the pullback. The highlighted green area on the chart centers on this $1.30 to $1.40 range.
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At the time of writing, XRP is trading at $1.96, down 4.7% in the last 24 hours. CoinsKid’s guess is that if the current correction move continues to play out, the price of XRP may pivot from the descending resistance line and move towards this support area in the coming months. This will be the last move in the ABC wave correction that started after XRP reached a new all-time high of $3.65 in July 2025.
According to the analysis, only continuous movement back up the 5-day ribbon will invalidate this bearish trend and reduce the chances of prices revisiting that lower support region.
The featured image was created with Dall.E, a chart from Tradingview.com
