XRP could face a deep price decline after failing to complete a five-wave rise, according to analyst More Crypto Online. He believes the likelihood of a larger decline has increased.
In a recent post on X, the analyst said XRP failed to form the expected five-wave pattern. He is now watching to see whether the price forms a three-wave rebound, which would indicate a weaker recovery.
More Crypto Online also noted that XRP is approaching the 61.8% Fibonacci retracement level of its latest rebound, increasing the risk of a deeper correction.
According to CoinMarketCap, XRP is trading at around $1.31, down 1.3% over the past day and 18.5% over the past 30 days.
XRP Approaches Key Fibonacci Levels
The XRP/USD one-hour chart from MCO Global Research shows XRP trading at around $1.32082, close to the 61.8% Fibonacci retracement level at $1.30928.
Other important levels to watch are $1.29295, $1.28590, and $1.27705. If XRP falls below its current support area, these levels could become the next downside targets. The chart also highlights $1.25 as an important price zone, with a broader support area between $1.21237 and $1.10623.
Essentially, these levels indicate where XRP could find support if selling pressure increases.
Can XRP Still Recover?
The analyst is concerned about the structure of XRP’s recent rebound. In Elliott Wave analysis, a five-wave rise can signal a stronger upward move, while a three-wave bounce may indicate a weaker recovery.
If XRP fails to form a stronger upward pattern, the risk of another price decline increases. However, holding above the nearby Fibonacci levels would help XRP sustain its recovery. A move higher would improve the short-term outlook, while a drop below these levels could expose XRP to further losses.
In summary, as XRP trades near $1.32, the key question is whether its recent rebound can gain strength or whether another decline lies ahead.
XRP Holders Urged to Focus on the Long Term
While XRP holders grow frustrated with the cryptocurrency’s short-term price performance, prominent voices in the community are urging patience, citing historical price action.
On X, Black Swan Capitalist co-founder Vandell Aljarrah reminded investors that XRP traded sideways for two years before its historic 2017–2018 rally. Specifically, he noted that XRP consolidated between $0.004 and $0.011 for 742 days before surging by 64,000%.
However, some investors question whether XRP can repeat that performance. XRP is currently trading at around $1.32, which is 65% below its all-time high of $3.84. A 64,000% increase from here would push XRP to $845, a target many consider unrealistic in the short term.
Nevertheless, Aljarrah’s central message is that prolonged consolidation does not necessarily rule out a major rally. He is encouraging investors to remain patient, noting that XRP also surged 700% in the 2024/2025 market season.