Ripple (XRP) Pauses After Chaos: Is Wave 5 Still Coming or a New Bull Trend Emerging?

Ripple (XRP) suffered a 6% decline over the past day, and traders are now questioning whether the worst is over or if one more leg down is still on the ￰0￱ suggest that this pause aligns with the classic Elliott Wave Theory (EWT) pattern, where extreme moves are often followed by a Wave 4 consolidation, and set the stage for a final impulse ￰1￱ Ready to Reverse? Historically, markets rarely pivot sharply after a massive Wave 3 move. Instead, analyst CasiTrades explained that they typically undergo one last exhausted drop, or Wave 5, before a steady trend reversal takes ￰2￱ price action appears to support this ￰3￱ remains trapped near Wave 4 resistance levels, as it failed to break decisively above the key $2.82 mark, even amidst market ￰4￱ absence of a strong breakout points to a market that may need one more corrective wave to fully exhaust selling pressure before sentiment can shift bullish.

Cross-exchange data remains highly inconsistent, which has further complicated ￰5￱ trading pairs have reported wildly divergent lows, from sub-$1 prints to levels considerably ￰6￱ Binance USD, XRP’s price momentarily dipped to $0.77, a staggering 72% decline from recent highs, breaching the .786 Fibonacci ￰7￱ revisiting that extreme seems unlikely, the analyst warns that a retest of the .618 retracement near $1.46 – or the “golden pocket” around $1.35 is plausible in the next wave ￰8￱ levels coincide with multiple technical indicators, including Wave 5 extensions, macro retracements, and prior Wave 2 targets, which make them critical zones for accumulation and the setup for a strong ￰9￱ potential silver lining for XRP traders lies in the chaos ￰10￱ recent collapse may have pushed the broader Elliott Wave count from a shallow Wave 4 to a deeper macro Wave 2, laying the groundwork for a “powerful” impulsive move that could ultimately propel XRP toward $6.50-$10.00. $2 Test Looms Crypto analyst Ali Martinez had recently made a concerning observation during which he said that XRP “looks like it wants to visit $2.” Martinez referenced XRP’s UTXO Realized Price Distribution (URPD) to identify the next crucial support if the asset experiences another leg down, and flagged $2.10 as a potential ￰11￱ the upside, he noted that a reversal could find immediate support at $2.80, a level that, if held, might pave the way for the crypto asset to resume its upward momentum toward $3.