XRP’s Recent Price Movement and Analyst Insights
XRP has been mostly stagnant for the past four months, trading in a tight range and remaining far from its peak of $3.65. Yet, one technical analyst believes this prolonged downturn might be nearing its end, suggesting XRP is approaching a point that traders should pay attention to.
Narrow Range Suggests Late Compression
Protechtor, an analyst active on X, has been analyzing major support areas on XRP’s daily chart for over a year. He interprets the long-term decline from late 2025 to early 2026 (identified as Wave C in a broader correction) as either complete or nearly so.
The evidence lies in the price activity observed over the last four months. XRP’s price movements have remained confined within a support band of about $1.30 to $1.70. This phase of price compression seems to represent the latter part of a descending triangle.
This pattern can be noted on the daily chart, where since January 2026, XRP has displayed a trend of lower lows, establishing a relatively stable foundation around $1.28 to $1.31. Currently, XRP is trading at around $1.43.
The analyst posits that the decline from the 2025 high of $3.65 aligns with the completion of either Wave 2 or Wave B of the Elliott Wave. This analysis features subwaves identified from (a) to (e), indicating that wave (e) is in progress and wrapping up the triangle before a potential final surge.
Final Flush or Low Approaching
Protechtor outlines two possible trajectories for XRP’s future. If indeed XRP is in the late phases of a descending triangle, the first scenario would depict a resolution characterized by typical downward momentum. This might involve dropping below the low of wave (d) at $1.28 before a sharp reversal occurs.
Such a scenario would heighten the chances of establishing a bottom, as triangles generally culminate in a quick upward movement followed by a rapid pullback.
The second scenario posits that XRP might have already reached significant lows. If there’s a breakout above the high of wave (c), it would negate the triangle structure, suggesting that the corrective phase ended sooner than anticipated.
Regardless of the path taken, the analyst’s conclusions point toward a similar outcome. “In either case, we expect to be very close to the bottom,” he remarked. These predictions about the bottom represent only a small part of a larger bullish structure that remains intact.
