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Crypto

XRP rebound may be a trap as Elliott wave points to possible further drop

XRP has rebounded from recent lows, but analysts say the current correction may not be over under Elliott wave structure, leaving room for another decline. The 1-hour chart has yet to form the structure needed to confirm a trend bottom, raising the possibility of a retest of support. Key support is seen at $1.10 to $1.38, while resistance is placed at $1.44 to $1.60. U.S. spot XRP ETFs logged $18.96 million of net inflows over the past week.

Crypto

XRP falls below $1 for first time since November 2024, raising warning of further declines

XRP posted a weekly close below $1 for the first time since a rally in November 2024, ending the weekend at $0.9925 after repeated attempts to defend the level. Selling pressure intensified on Aug. 14, pushing it to a year low of $0.9874 and a daily close below $1. It is back at $1 but remains weak. The daily RSI fell to 36.65, keeping focus on support at $0.9874.

Crypto

XRP shows signs of nearing end of slump tunnel, seen bottoming at $0.65 and running to $6

An analysis says XRP may have entered the final phase of a long-term bearish cycle as monthly technical patterns seen at past major lows reappear. XRP closed July below the 1-month MA50 for a second straight month for the first time since June 2024. Some analysts see additional consolidation or correction over the next 3 to 4 months, with a potential final bottom at $0.80 to $0.65. A break above long-term resistance is still needed for a bullish shift, with about $6 cited as an initial target.