XRP has broken below a major Fibonacci retracement level, according to prominent cryptocurrency analyst CasiTrades, prompting renewed caution among traders watching the coin’s near-term prospects.
XRP loses 0.5 Fibonacci retracement, invalidates previous structure
CasiTrades, an analyst known for her technical chart analysis shared on X, observed that XRP dropped beneath the 0.5 Fibonacci retracement, a level she had been monitoring as a pivotal support. This development has invalidated her previous expectation of a final wave movement toward $1.78.
On her latest TradingView chart, XRP was trading around $1.26 on the 1-hour timeframe, below the 0.5 retracement marked at $1.34. The breakdown of this support has shifted the analytical focus to even lower Fibonacci levels.
CasiTrades noted that XRP’s previous upward structure depended on maintaining the 0.5 retracement, and without recovery above this mark, the outlook for a strong bullish move is no longer valid.
She emphasized that the larger price structure would remain tilted to the downside unless XRP can climb above the macro 0.618 Fibonacci level, positioned near $1.65, and establish it as support.
$1.10 emerges as a key level for XRP
Attention has now turned to the area around $1.10, where the 0.786 Fibonacci retracement lies. CasiTrades identified this range, including approximately $1.09 to $1.14, as critical for the next phase of XRP’s price action. She argued that the $1.10 zone has multiple points of technical significance and coincides with a potential C-wave target, increasing its importance in the current setup.
The analyst views a bounce or breakdown from $1.10 as meaningful for determining whether XRP is entering a sustained trend change or sliding further.
Downside risk extends toward $0.87
Beyond $1.10, CasiTrades highlighted $0.87 as another significant potential support, aligning with the macro 0.854 Fibonacci retracement. The chart attached to her analysis shows this lower area between $0.86 and $0.87 as untested in recent cycles, suggesting the risk of further declines if buying interest fails to materialize.
CasiTrades advised followers to be prepared for either outcome, given the prevailing volatility and decisiveness of these levels for future moves in XRP.
Several market participants responded to her analysis with varied perspectives. SecureWeb.AI pointed to declines across the broader crypto market and expressed interest in accumulating XRP around $0.87 if the price reaches that mark.
Meanwhile, Colin Chatfield attributed the weakness in XRP to the failure of the CLARITY Act, a recent legislative proposal intended to provide regulatory certainty for digital assets, while Justin Corzine echoed the view that the bill’s rejection had a material impact on market sentiment.
Mini dictionary: CLARITY Act, a proposed United States bill designed to provide clearer regulatory guidance for cryptocurrencies and digital asset markets. Its failure may increase uncertainty for projects operating in the sector.
At press time, XRP continued to trade below several of these technical markers. The analysis remains centered on whether bulls can re-establish control or if further declines will take hold as major support levels are tested.
| Fibonacci Level | Price Level | Implication |
|---|---|---|
| 0.5 | $1.34 | Broken, structure invalidated |
| 0.618 | $1.65 | Must reclaim for bullish scenario |
| 0.786 | $1.10 | Key downside support |
| 0.854 | $0.87 | Potential next support if further declines |
