Analyst Says End of XRP Correction Is Extremely Close

XRP is currently navigating a critical juncture in its market structure, with the recent pace of its decline presenting a scenario that many traders are closely watching as a significant test.

CasiTrades, a recognized analyst in the crypto space, recently shared her short-term outlook for XRP, complete with detailed charts derived from Coinbase and Binance data. Her analysis centers on specific price levels, outlining a clear path as XRP approaches what she identifies as a potential bottom. She believes the current corrective phase is "extremely close" to concluding.

Break Below the 0.5 Level Sets the Tone

CasiTrades observed that XRP experienced a significant drop below its 0.5 retracement level on Coinbase. She explained that this development paved the way for a move towards the extended Wave 3 support, located near the $1.84 mark. XRP's price action subsequently met this level. Binance mirrored this movement, touching its own macro 0.5 level at $1.88. She emphasized this synchronization across major exchanges as confirmation of the market structure she tracks on higher time frames.

Following this decline, XRP saw a bounce. However, CasiTrades does not interpret this reaction as the beginning of a trend reversal. She characterizes it as a subwave 4 bounce, distinct from a fundamental shift in direction. Her analysis indicates resistance in the $2 to $2.09 price zone. She anticipates XRP will test this area before entering the final phase of its correction, stating that the asset still requires "another wave lower."

She has identified the 0.618 macro support, situated around $1.65, as the next significant target. CasiTrades believes this level is where the correction is likely to "mark the bottom" on both Coinbase and Binance. Her structural analysis suggests that the decline will conclude at this point, preceding a shift in momentum.

Coordination With Bitcoin Shapes the Outlook

CasiTrades' analysis incorporates Bitcoin's (BTC) market movements into her XRP forecast. She noted that BTC approached its own macro 0.382 retracement level but did not reach it. Her expectation is that BTC will complete this move concurrently as XRP declines to the $1.65 level. She views this as a synchronized moment for both digital assets.

The identified level for BTC is approximately $80k, which she believes will signify the clean completion of its correction. The timing observed across both BTC and XRP charts supports her view that both assets are still engaged in structured declines rather than trend breaks. She posits that once these respective price targets are met, BTC is poised to commence its Wave 5, heading towards new all-time highs.

This transition would represent a shift from corrective action to trend continuation for the leading cryptocurrency. XRP, in turn, would then enter its Macro Wave 3 alongside the broader altcoin market. She added that while they will move in tandem, their performance will differ in strength due to their respective positions within the market cycle.