XRP could surge toward $2.28 before a potential breakdown drags the token below $2 and possibly to $1.65, according to Elliott Wave analysis from CasiTrades.
What Happened: Wave Pattern Signals
Technical analysis shared on X suggests XRP is completing a corrective wave structure on the 1-hour chart. The recent pullback to $2.03 over the past 48 hours represents a deeper B wave than initially expected.
Price fell into the 0.618 Fibonacci retracement around $2.09. This depth remains consistent with Elliott Wave theory.
CasiTrades identifies the golden retracement near $2.26 as the primary upside target, with possible extension into the $2.28 region where the golden pocket and 1.236 extension converge.
The C wave is expected to subdivide into five smaller waves.
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Why It Matters: Downside Risk
The analyst expects a rejection at the $2.26 to $2.28 resistance band that could trigger a larger Wave 3 move to the downside. If that rejection materializes cleanly, XRP could begin a sustained decline toward macro support around $1.65.
Confirmation of this bearish path depends on how the C subwaves form and whether price delivers a decisive rejection at projected levels.
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