The price of XRP has been falling for several months now, starting annual high over $3 by 2025 to less than $1.4 at the time of writing. As the crypto market faces strong bearish headwinds, XRP’s next move remains uncertain. While others hope for recoveryothers continue down. With his bearish forecast, crypto analyst CasiTrades suggests that XRP’s consolidation phase may not end. He points out that the cryptocurrency could still crash to $0.87 before the payout current bear market it ends.
XRP Price Faces $0.87 Crash
CasiTrades has introduced a new technical update on XRP’s price action, which describes a short-term bearish scenario that could see the cryptocurrency drop sharply to $0.87 before any meaningful recovery begins. Posting on X, you note that XRP has now spent 34 days inside Wave 4 of the Elliott Wave structure. During this period, price movements were unusually slow, and the overall volatility of all pairs decreased significantly.
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According to the chart, XRP is currently trading around $1.39 and remains stuck within the correction structure that has been going sideways since early February. CasiTrades noted that this pattern was typical of Wave 4 behavior, often accompanied by prolonged, muted consolidation that slowly wears out market participants and frustrates bulls and bears.
CasiTrades has highlighted two key price levels that are likely to determine XRP’s next move. The first is the $0.87 level, which coincides with the 0.854 Fibonacci retracement shown on the chart. If XRP crashes at this level, the analyst expects it to act as a strong support point for the cryptocurrency ongoing maintenance it can end, and recovery can begin.
The second resistance level is around $1.65, which corresponds closely to the Fibonacci extension of 0.618. CasiTrades suggests that if XRP moves higher and breaks above this level, then hold it as support, it will not work. bearish cryptocurrency outlook and indicate a possible change back to bullish momentum.
XRP Recovery Expected After Wave 4 Bottom
If XRP follows a bearish trend, the CasiTrades chart suggests that if Wave 4 is completed near the $0.87 support area, the market could switch to Wave 5a strong recovery phase is considered. The green line on the chart shows this expected retracement, which points to a higher high after the end of XRP’s correction phase.
Following the proposed route of the green line, XRP is expected a sharp retracement from $0.87 and to the next intermediate zone near the 0.786 Fibonacci Retracement around $1.085. From there, the price is expected to revisit its previous resistance area near $1.65, before rising to the second resistance level around $1.78. If the cryptocurrency breaks above this level with bullish momentumthe chart suggests another surge that could propel XRP above $1.9.
Featured image from Freepik, chart from Tradingview.com
