XRP briefly fell below the key $1.31 support zone, highlighting the risk of further losses. On April 3 (local time), blockchain outlet The Crypto Basic reported that XRP came under downside pressure after macroeconomic issues and tested below $1.31. It slid to as low as $1.281 during the session, temporarily breaking a major support area.

The key in this move is $1.310, seen as the 0.618 Fibonacci support line. Market analyst CasiTrades (카시트레이즈) said XRP briefly dipped below $1.310, the 0.618 Fibonacci support, then recovered to $1.315, but he viewed the rebound as weak. On the hourly chart, he pointed to a breakdown from an RSI triangle consolidation. He also said price action and the RSI failed to form bullish divergence.

He said selling dominance is continuing, citing the RSI "triangle breakdown" on the hourly chart. He also stressed that price and RSI are moving in the same direction, meaning "even if price rises, the RSI will not support buying." With little room for bullish divergence to form, he interpreted downside momentum as dominant.

He set a first downside target at $1.05 to $1.09. He added that $1.085 on the upper end is close to the 0.786 Fibonacci retracement level, and that in a weaker scenario the price could slide to $1.05. He said the drop into this zone could be part of finishing wave 3 in a "corrective Elliott wave."

He forecast that the correction may not move in a straight line and could include an interim rebound. If it reaches $1.05 to $1.09, he said a wave-4 "relief rally" could lift it back to $1.271, the 0.50 Fibonacci level. A move from $1.05 to $1.271 would be about a 21 percent rebound.

His final downside target was $0.87 as a "macro support" stage, aligning with the 0.854 Fibonacci retracement zone. That would amount to about a 33 percent drop from current levels. CasiTrades said he has consistently presented this price level during the current decline, describing it as a correction zone XRP may have to pass through before reversing its bearish trend.

Separately, he kept a bullish long-term outlook, apart from the short-term downside scenario. On XRP's long-term target, he said even $6 is a conservative goal, and in another analysis he also put forward a view that XRP could rise to $80. Another analyst, Egrag Crypto (이그랙 크립토), also cited a multi-year triangle breakout and set $27 as a medium- to long-term target.

Breakdown Playing Out on XRP! We just saw $1.31 support break, and this is exactly what I mentioned in the last update. Once that level failed, a sharp move down was likely. Now that momentum is kicking in, I’m expecting this to carry into the $1.05–$1.09 range, which is… pic.twitter.com/MPgQQuEdzM