A fresh technical outlook suggests XRP may be approaching a decisive phase. Market momentum has shifted after a brief recovery, positioning the asset for a potential downward move.
According to crypto analyst CasiTrades (@CasiTrades), the recent price action aligns with a classic Elliott Wave setup that could define XRP’s near-term trajectory. Her outlook identifies a completed corrective phase and anticipates an accelerated decline as the next major move unfolds.
🚨The Bounce Is Over on XRP. Now Watching for W3 Down 🚨
That ceasefire push over the last several hours sent XRP perfectly into the .618 retracement and finally gave us a clean W2.
📉It knocked out the one of the smaller subwave counts but the bigger structure hasn't changed.… pic.twitter.com/2CwGro30jK
— CasiTrades 🔥 (@CasiTrades) April 8, 2026
Fibonacci Resistance Confirms Wave 2 Completion
The chart shows XRP retracing to the 0.618 Fibonacci level near $1.39. This retracement marked a key resistance zone and validated the completion of Wave 2 within the broader Elliott Wave structure. The rejection from this level reinforces the bearish outlook and signals the start of Wave 3.
CasiTrades emphasized the precision of this move, noting that “that ceasefire push over the last several hours sent XRP perfectly into the .618 retracement and finally gave us a clean W2.” This reaction highlights the importance of Fibonacci levels in identifying turning points and guiding technical projections.
The chart also indicates that smaller subwave counts have been invalidated, while the dominant structure remains intact. This strengthens confidence in the overarching Elliott Wave count and supports expectations of continued downside momentum.
Wave 3 Targets $1.09 With Accelerated Momentum
Wave 3 typically represents the strongest and most decisive phase in an Elliott Wave sequence. In this case, the projected decline points toward the 0.786 Fibonacci retracement level near $1.09. The analysis suggests that XRP could move to this zone speedily.
CasiTrades outlined this expectation clearly, stating, “I’m still expecting a W3 down toward ~$1.09, and this should accelerate fast!” The projection aligns with the descending channel illustrated on the chart, which continues to guide XRP’s price structure.
Supporting this outlook, trendlines indicate sustained downward pressure. A broader descending formation intersects with key Fibonacci levels, reinforcing the likelihood of continued movement toward the projected target.
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The RSI also shows an upward trend in recent sessions, reflecting temporary strength that often precedes decisive directional moves in structured corrections.
Key Levels to Watch in the Coming Sessions
The analysis identifies critical price zones that could shape XRP’s next phase. Immediate resistance remains near $1.37-$1.4, corresponding with the 0.5 and 0.65 Fibonacci retracement levels. A sustained move below $1.3 would confirm bearish momentum and strengthen the case for Wave 3.
The projected support area near $1.09 stands as the primary downside target. This level serves as a pivotal zone for potential stabilization before the next market cycle develops.
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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