XRP has been trading near $1.24 after breaking below the $1.27 support level. Crypto analyst CasiTrades sees the price action as significant. Former support at $1.27 is now acting as resistance, and the current backtest of that level is being watched closely.
CasiTrades issued a clear warning to followers: “Don’t let this backtest fool you.” The analyst believes the backtest holding as resistance sets up another leg lower.
The $1.10 Target
CasiTrades identifies $1.10 as the next major level to watch. The analyst describes it as XRP’s 0.786 Fibonacci support — a level that has not yet been backtested. That distinction matters in the analysis. A level that has never been tested carries more weight as a potential target.
The chart shared by CasiTrades shows the current price sitting near the 0.618 Fibonacci level at approximately $1.24. The projected path moves lower toward the 0.786 at $1.10 before any recovery takes shape.
🚨 ripple:native DON'T LET THIS BACKTEST FOOL YOU! 🚨
After breaking below our $1.27 support, former support is now being tested as resistance, and if this back-test holds, we're setting up for another significant wave down toward our next major fib target at $1.10!
This is… pic.twitter.com/cpSPU497xg
— CasiTrades 🔥 (@CasiTrades) October 30, 2026
Wave 2 Still in Play
The analyst connects this price action to Elliott Wave theory. CasiTrades has maintained that Wave 2 may not be complete, and the recent drop supports that view. Corrections within Wave 2 can be severe, and a short-term rally does not confirm a bottom.
When a follower named Berk asked whether Wave 3 is close to starting, CasiTrades responded: “Yes, the price action we’re seeing is what we needed to usher in that W3.”
The analyst added that the move to support should be “fast” and that “the recovery off it, spectacular.” That recovery, however, depends on XRP reaching and holding the $1.10 level first.
Fast Move Expected
CasiTrades does not expect prolonged consolidation on the way down. When asked by a follower whether XRP could consolidate for weeks before dropping, the analyst was clear: “This should be an impulse down, not consolidation! So much faster price action than we’ve been seeing.”
An impulse move carries different characteristics than a slow grind. XRP traders watching for gradual weakness may find themselves caught off guard if the drop accelerates.
Community Reaction
One commenter, Don Manning, suggested the recent price action may be connected to a Binance hack and subsequent fund liquidations. That claim has not been verified, and CasiTrades did not address it in the thread.
The analyst’s focus remains on the technical setup. XRP holds at $1.24 for now. The $1.10 level is next.
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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