XRP's Rollercoaster Ride: Analyst Eyes Sharp Dip to $0.87 Before Major Rebound

The XRP cryptocurrency has endured a protracted downward trend, plummeting from a 2025 peak above $3 to its current valuation below $1.4. Amid persistent bearish market conditions, the path forward for XRP remains a subject of intense debate among investors. While some foresee an imminent recovery, others, including prominent crypto analyst CasiTrades, predict a further significant decline, potentially to $0.87, before the current bear market finally exhausts itself.

Technical Forecast: A Critical $0.87 Test Looms

CasiTrades' recent technical analysis paints a short-term bearish picture for XRP. She highlights that the cryptocurrency has been in a prolonged "Wave 4" of an Elliott Wave structure for 34 days, characterized by unusually slow price movement and reduced volatility. Currently trading around $1.39, XRP remains trapped within a corrective sideways pattern that began in early February. This consolidation phase, typical of a Wave 4, often leads to market exhaustion before a decisive move. The analyst identifies the $0.87 level as a crucial support point, aligning with the 0.854 Fibonacci retracement. A crash to this level is anticipated to complete the ongoing correction, setting the stage for a potential reversal.

Post-Crash Rally: Envisioning XRP's Recovery

Despite the grim short-term forecast, CasiTrades' chart suggests a robust recovery scenario once Wave 4 concludes near the $0.87 support. Following this bottom, XRP is expected to transition into "Wave 5," a phase marked by strong upward momentum. The projected rebound would first target the 0.786 Fibonacci Retracement around $1.085, then revisit the previous resistance area near $1.65. A decisive break above $1.65 would invalidate the bearish outlook and signal a shift towards bullish sentiment. Should XRP maintain this momentum, further gains are projected, potentially propelling the price beyond $1.9 as it enters a new bullish cycle.