XRP Price Correction Is Far From Over: Bearish | Crypto News
Over the past month, the XRP price has skilled a vital decline, with its price dropping by 23% amid mounting promoting stress following the crypto market crash on October 10. Some analysts are now suggesting that the altcoin’s correction isn’t yet full.
A Retest Of Key Fibonacci Level On The Horizon
Market professional Casi Trades not too long ago shared insights on social media web site X (previously Twitter), indicating that enthusiasm surrounding the current partnership announcement with Mastercard could have been untimely.
During the Ripple Swell 2025 event in New York, the company unveiled a new collaboration with Mastercard, WebBank, and crypto exchange Gemini to take a look at its RLUSD stablecoin as a means of settling credit card transactions.
The announcement initially propelled the XRP price toward the $2.41 mark. However, this surge was short-lived, and the price rapidly retraced. It maintained its trajectory below the earlier Fibonacci Wave 1 low, as seen in the chart below.
Casi Trades famous that this price rejection reinforces the idea that the Wave 3 low at $2.05 has not been adequately examined. She anticipates that the XRP price will seemingly development downward toward this Fibonacci stage to full the subwave 5 of Wave 3.
Additionally, the relative strength index (RSI) helps this bearish outlook, indicating a divergence at the current price high and suggesting a retest of the decrease trendline is imminent.
XRP Price Poised For An Explosive 2,155% Increase?
Despite the current bearish sentiment, some analysts keep bullish projections for the XRP price. Egrag Crypto not too long ago remarked that the continuing price formation resembles a vary relatively than a easy ascending wedge or rectangle.
Based on measured strikes, projections counsel that the altcoin might attain a new all-time high around $10. If this is certainly Macro Wave 2, the anticipated Wave 3 might be 1.618 occasions the size of Wave 1, probably putting targets between $14 and $25.
Moreover, the analyst identified the growing hypothesis that XRP will revisit its $0.77 wick on Binance. However, Egrag countered these discussions, noting that the altcoin might also attain the $50 “wick” noticed on the Gemini crypto exchange.
While some imagine the Binance wick to $0.77 must be crammed, Egrag argues that ignoring the potential for XRP to hit $50 is a mistake, particularly if market symmetry comes into play.
The analyst concluded his thesis by stating that this cycle might see the XRP price reaching that $50 stage as the market undergoes its “final blow-off phase.” This would suggest a major 2,155% uptrend forward for the altcoin’s price.
When writing, XRP trades at $2.22, still recording beneficial properties of 318% year-to-date, according to CoinGecko data.
Featured image from DALL-E, chart from TradingView.com
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