XRP Stalls Below Key Resistance, But Setup Aligns For An Elliott Wave Finish

XRP is showing signs of hesitation after a strong rebound, struggling to push past key resistance ￰0￱ recent price action fits neatly within an Elliott Wave pattern, suggesting the market may be entering its final consolidation phase before the next major move ￰1￱ Pauses After The Storm CasiTrades, in a recent market update, explained that following last Friday’s sharp wipeout, prices managed to rebound impressively, but that momentum now appears to be losing ￰2￱ to the analyst, such pauses are natural after strong ￰3￱ Elliott Wave Theory (EWT), this type of slowdown aligns with Wave 4, a stage where the market consolidates before preparing for the final impulsive ￰4￱ Reading: Is The XRP Bottom In?

Top Crypto Analyst Turns Ultra-Bullish The analyst emphasized that markets rarely pivot directly after a major Wave 3 decline. Instead, they often complete an exhausted Wave 5 move to wrap up the impulse cycle before a fresh uptrend begins. However, CasiTrades noted that the market has not yet shown the kind of strength needed to invalidate the final ￰5￱ action is currently stalling around Wave 4 resistance ￰6￱ the market were truly in a sharp V-shaped recovery, it should have already cleared the $2.82 resistance mark with strong momentum, but that has yet to ￰7￱ these conditions, the analyst believes that the market may still need one more wave down to fully exhaust selling pressure and reset ￰8￱ Data Chaos: No “Universal” XRP Chart CasiTrades went on to emphasize that market data across exchanges has become highly inconsistent, making accurate analysis ￰9￱ analyst pointed out that each trading platform displayed a different low during the recent crash, with some pairs dipping below $1, while others managed to hold at much higher ￰10￱ this disparity, CasiTrades advised traders to focus on the exchange they are personally trading on to ensure precision, as there is no “universal” XRP ￰11￱ Reading: Analyst Says Be Concerned About XRP Price When This Starts Happening To 3-Day Candles According to the analyst, on Binance USD, XRP’s price wicked as low as $0.77, marking a sharp 72% drop from local highs and falling below the 0.786 Fibonacci retracement ￰12￱ CasiTrades believes such extreme lows are unlikely to repeat, the next potential retracement levels around $1.46 (0.618 Fib) and the golden pocket near $1.35 remain key areas of ￰13￱ zones align with multiple technical factors, including Wave 5 extensions, macro Fibonacci retracements, and Wave 2 ￰14￱ analyst explained that if XRP were to retest these deeper levels, it could trigger a powerful reversal, potentially setting the stage for the long-anticipated impulsive wave that targets the $6.50 to $10.00 ￰15￱ the chaos caused by the recent market crash, CasiTrades sees a potential silver ￰16￱ noted that the crash might have shifted XRP’s structure from a shallow Wave 4 correction to a broader macro Wave 2 retracement, which may precede the strongest impulse waves in the ￰17￱ image from iStock, chart from ￰18￱