XRP Could Bleed Lower Before Any Major Rally, | XRP News
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The each day XRP chart has became a clean Elliott Wave case research, based on crypto technician “Charting Guy,” who argues the newest rebound was corrective fairly than impulsive and certain precedes a deeper C-wave pullback towards August’s lows. In a post on X, he wrote: “August bounce from $2.72 to $3.38 was a 3 wave corrective move up unlike $OTHERS 5 wave impulsive move up, so I believe it was a B wave & we will likely revisit the August lows in the coming days/weeks for our C wave to end the correction that started late July.”
XRP Correction Isn’t Over Yet
The annotated chart (XRP/USD) plots a developing five-wave sequence with waves 1 and a pair of accomplished in May and June, a vertical wave 3 peak into mid-July, and an unfolding A-B-C that will finalize wave 4. The A leg knifed off the wave-3 high, a B-wave restoration carried to $3.40, and the projected C leg descends into a Fibonacci cluster that coincides with the August trough. At the time of the snapshot, XRP was quoted round $3.02881 on the each day close, sitting between the 0.786 and 0.888 retracement rails.
Fibonacci scaffolding dominates the chart and defines the important thing ranges the analyst is trading in opposition to. The retracement and extension ladder is printed as follows: 0 at $1.61184, 0.136 at $1.78405, 0.236 at $1.92231, 0.382 at $2.14363, 0.5 at $2.34100, 0.618 at $2.55653, 0.702 at $2.72195, 0.786 at $2.87293, 0.888 at $3.1273, and 1.000 at $3.4000.
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Above the prior high, the upside extensions that map the potential wave-5 run are marked at 1.272 ($4.16533), 1.414 ($4.63105) and 1.618 ($5.39272). The B-wave stall unfolded beneath the $3.1273–$3.4000 resistance band (0.888–1.000), reinforcing that area because the ceiling the market should clear to substantiate a completed correction.
Conversely, the proposed C-wave termination zone is anchored by the 0.786–0.702–0.618 stack at $2.87293 / $2.72195 / $2.55653, with the August pivot particularly highlighted at ~$2.72.
A downward-sloping magenta trendline from the wave-3 apex bisects the A-B-C, and the projected path drives price into a labeled “4” earlier than turning sharply larger into a new advance.
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The terminal “5” marker is positioned virtually precisely on the 1.414 extension close to $4.63105—per the writer’s own wording that this represents a conservative goal zone—whereas the 1.618 print at $5.39272 frames an apparent stretch goal if momentum over-delivers.
Addressing group questions on his earlier larger goal of $8, the analyst replied, “is there anywhere in the post that says no more $8 target?” and, when requested about an prolonged transfer in November, he answered “maybe. Maybe.” On positioning, he cautioned that “dips are never guaranteed even if they seem likely,” including: “hodl imo… use trading options or futures or a trading spot bag to make their short term gains.”
The rapid learn is unambiguous: except XRP can reclaim and maintain above $3.1273 after which $3.4000, Charting Guy’s roadmap favors a retest of the August flooring close to $2.72195 to finish wave 4. Only after such a flush—or a decisive invalidation by way of resistance break—does his schematic open the door to the subsequent impulsive leg concentrating on $4.16533 to $4.63105, with $5.39272 reserved for an prolonged fifth in late-September or early-October.
At press time, XRP traded at $2.96.
Featured image created with DALL.E, chart from TradigView.com
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