XRP has fallen through a crucial support level, marking a shift in the ongoing correction. The move has deepened concerns among traders tracking Elliott Wave patterns, with one analyst flagging a potential target near $0.92.
What the Wave Structure Shows
Analyst CasiTrades, who has monitored XRP's wave structure for four months, now sees the formation of a subwave 3 decline. In Elliott Wave theory, third waves are typically the fastest and most aggressive part of a correction. The 1.618 Fibonacci extension of the current move points to a target just above $0.92, near the $0.87 support zone.
The Projected Path
Under the base scenario, XRP would make a sharp drop to $0.92, then bounce to $1.20 resistance before falling again to test the $0.87 area. This sequence is what CasiTrades describes as the most likely roadmap for the coin's near-term price action.
An Alternative Scenario
But there's another possibility. If the bounce off the subwave 3 low is strong enough, XRP may skip the final leg down. The earliest sign of that shift would be the price reclaiming $1.30. That level would signal that sellers have lost control and the correction could end sooner than expected.
Selling pressure had been anticipated for months, and the pattern has been under scrutiny by technical analysts. The break below support now confirms that the move is accelerating. Traders are watching for a definitive bounce — or another leg down — to decide which path plays out.
