A market analyst and trader has shared two possible directions he believes XRP could take from here amid the recent struggles.
For context, XRP is still trying to regain its footing after the recent market crash that dragged it below the key $3 level. After collapsing to the $1.5 region on Oct. 10, XRP recovered immediately above $2, but has since failed to reclaim the pivotal $3 psychological level.
As the struggles continue, market analyst TraderJB recently highlighted two possible directions for the token. According to him, XRP is either wrapping up a long corrective phase or heading for an extended consolidation that could last well into next year.
XRP Completes Wave W, X, Y Structure
TraderJB described the recent price action as a ten-month corrective structure that features a flat pattern followed by two zigzags. He broke it down into three main waves labeled (W), (X), and (Y), which respectively lasted roughly four, three, and three months each.
These timeframes sync with XRP’s actual movements. Specifically, wave (W) formed from January to April, wave (X) ran from May through July, and wave (Y) stretched from August to October.
Notably, TraderJB’s chart traces this sequence back to XRP’s sharp rally in late 2024, when the price surged from $0.5 in November 2024 to $3.4 in January 2025. This movement completed wave (3).
However, the first leg of the correction pulled the token down to about $1.8 in April, finishing wave (W). XRP rebounded through May and June, climbing past $2.8 before topping out at $3.6 in July. This rally formed wave (X).
Meanwhile, between August and September, the token moved sideways inside a contracting triangle pattern with lower highs marked as a, c, and e. The consolidation ended with a smaller wave B before the market crash occurred on Oct. 10.
This crash sent XRP tumbling to the $1.5 low, a point labeled as wave C (Y) and marked with the broader wave (4). TraderJB pointed out that this sudden drop wiped out many leveraged long positions, setting the stage for a possible trend reversal.
Two Possible Paths for XRP
He now sees two potential outcomes. In the first, the correction has already ended, creating a completed double-three pattern that could launch a new rally. Meanwhile, in the second, XRP still has two corrective legs left, an additional (X) and a final (Z), which would form a triple-three pattern and extend the correction by another six months.
Despite outlining both paths, TraderJB leans toward the first scenario. He argued that the recent liquidation likely flushed long positions. As a result, the market could soon reverse once shorts begin to unwind.
With XRP currently trading for $2.4, a steady climb above $2.8 to $3.0 could confirm that reversal and open the way for a push toward the $3.6 to $3.8 zone. On the other hand, a move below the October low near $1.5 would indicate that the correction isn’t over yet.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
