XRP Price Warning: Bullish Candles Could Be Noise
An analyst (CasiTrades) says XRP’s bullish candles over the last 24 hours are not confirmation of an uptrend. She argues the move is still inside a broader, bearish Elliott Wave structure and that resistance is holding.
Key levels for XRP traders: first target near $1.13, then a relief move before continuation lower toward $1.08. CasiTrades highlights $1.08 as aligned with the macro 0.786 Fibonacci support. A further break could push XRP to $0.87, near the macro 0.854 Fibonacci support.
Trading plan emphasis: buy only at key supports (below the 0.786 and 0.854 zones) or wait for a confirmed breakout above the 0.618 resistance, which could flip to support. Price action inside intermediate ranges is described as likely “shakeout” rather than a real reversal.
Indicators: bearish divergence is cited as evidence of XRP bullish exhaustion. RSI is said to be moving toward/into overbought conditions, implying the recent upside may already be stretched.
Bottom line for XRP: monitor whether price respects the support bands around $1.08 and $0.87; otherwise, the current strength may fade back toward the projected downside targets.
Bearish
The article frames XRP’s recent upside as “bullish exhaustion,” not a confirmed trend reversal. That’s why the expected impact is bearish: bullish candles can fade when resistance holds and a larger Elliott Wave count points lower.
Short-term (days): Traders are guided to expect volatility and possible continuation down after a relief bounce. The cited targets ($1.13 → $1.08, then toward $0.87) suggest a market that may undercut prior optimism and test Fibonacci-aligned demand zones.
Confirmation risk: If XRP breaks and holds above the stated 0.618 resistance (with a flip to support), the bearish count could be invalidated—creating upside risk to shorts.
Longer-term (weeks): If $1.08/$0.87 support zones fail, it can reinforce a downside structure and trigger broader risk-off behavior among XRP holders, similar to past patterns where “overbought RSI + bearish divergence” preceded pullbacks after brief rallies.
Overall, the combination of resistance failure, wave projection, bearish divergence, and RSI stretch tilts positioning toward selling rallies or waiting for support-based entries rather than chasing the recent bullish candles in XRP.