XRP is holding at a pivotal technical level following a recent upward move that aligned with forecasts from market analyst CasiTrades. The analyst now sees the price structure supporting another decline, potentially toward broader support zones, before the trend undergoes a significant reversal.
XRP reacts to resistance at $1.09
CasiTrades explained that XRP has been tracking what she described as the “purple scenario” on her technical charts. During a recent livestream, she stressed the significance of the $1.09 price area, highlighting that it had served as a focal point in her analysis for several months. She expected a brief rally around this level before sellers would return to push prices lower.
According to CasiTrades, “I explained that it would likely provide a small reaction for subwave 2, and that’s exactly what happened.” Her latest chart indicates that XRP bounced temporarily from support near $1.09 before quickly losing momentum.
The analyst’s second chart continues to show XRP following the projected purple Elliott Wave path. Technical indicators, such as the Relative Strength Index, dropped steeply toward oversold territory, signaling an uptick in selling activity.
XRP continues to follow the purple scenario outlined by CasiTrades, with a temporary rally at $1.09 giving way to renewed downside pressure as predicted. The chart shows a clear reaction at this resistance, mirroring previous forecasts.
Elliott Wave analysis is a method that examines market cycles and investor psychology to forecast price trends by identifying recurring wave patterns.
Mini dictionary: Elliott Wave – A technical analysis theory that uses wave patterns to try to predict market direction and investor sentiment.
Macro support zone under scrutiny
After the retreat from $1.09, XRP moved back to its broader macro support zone, which has served as the main floor in recent trading. CasiTrades views this area as crucial to determining whether the evolving Elliott Wave structure continues as anticipated.
She described the current juncture as a “critical time in the market.” The analysis suggests that a breakdown through this zone could open the way for a further decrease toward $0.87. Several Fibonacci retracement levels, including $1.05, $1.02, $0.99, and $0.94, may act as interim support during the move.
| Key Level | Type |
|---|---|
| $1.09 | Resistance / Initial reaction |
| $1.05 | Support (Fibonacci) |
| $1.02 | Support (Fibonacci) |
| $0.99 | Support (Fibonacci) |
| $0.94 | Support (Fibonacci) |
| $0.87-$0.86 | Major support zone |
Analyst projects possible move below $1 mark
CasiTrades anticipates that XRP could break below the psychologically important $1 mark in its next significant move. She pointed to the possibility of XRP returning to the 0.786 Fibonacci retracement level on Binance’s trading chart as part of a new subwave lower.
The projection includes a brief recovery phase after the initial drop, which could then be followed by another downward leg that would complete the wave structure. This targets the $0.87 zone for the end of the broader correction, an area previously highlighted as a final support before any major rally attempts.
Outlook remains aligned with initial scenario
Throughout this analysis, CasiTrades maintains that the purple wave count framework has remained intact. The focus stays on the macro support around $1.09, and upcoming sessions may see XRP pressing through several key Fibonacci levels on the way to major support near $0.87.
CasiTrades is a cryptocurrency analyst known for her technical analysis, particularly involving Elliott Wave theory and Fibonacci levels in forecasting XRP price movements.
As the technical setup unfolds, market attention is likely to remain fixed on whether XRP can defend its current support levels or if further decline will prompt a shift in the broader trend.
