XRP could fall below the $1 psychological level if Bitcoin enters a meaningful near-term correction, according to analyst TARA. The call is based on XRP’s correlation with Bitcoin, along with Fibonacci extension levels and a price gap left by an earlier liquidation event.
In a post on X, TARA said XRP had already reached what was described as a textbook resistance area, while Bitcoin’s wave structure still appeared incomplete. That setup points to the possibility of another short-term decline before Bitcoin advances toward mid-range resistance. If that correction unfolds, XRP may revisit deeper support first and only then attempt another move higher.
Bitcoin remains the main driver in the short term
TARA’s view is that Bitcoin continues to dictate price action not just for XRP, but for much of the crypto market. The analyst said XRP may have already formed a bottom around the current range. Short-term direction, though, still depends heavily on whether Bitcoin weakens before resuming its climb.
Even with that near-term risk, TARA did not abandon the broader bullish outlook. The analyst said XRP’s macro targets remain in the single-digit dollar range and suggested the market may already be trading near an important low.
CasiTrades points to Wave 4 bounce and possible final drop
A second analyst, CasiTrades, framed XRP’s structure through wave analysis. In that view, XRP is now in a Wave 4 relief bounce that could carry price toward a critical retracement level. If XRP fails to turn that area into support, the chart would open the door to a final wave lower with targets well below current levels.
CasiTrades added that the current bounce has reset momentum indicators enough that another move down could create bullish divergence. That would make lower levels more attractive for long-term buyers. If XRP instead reclaims the key level, the analyst said it would be better to wait for confirmation through a support retest before considering an entry.
According to CasiTrades, major lows may already be in place, and there is still a chance that the final downward wave never materializes. At the time of publication, XRP was trading lower on the day.