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Cryptocurrency analyst TARA has forecast that $XRP could decline below the $1 psychological support level, citing the altcoin’s correlation to Bitcoin’s price movements, according to a social media post.
- Analyst TARA warns $XRP could drop below $1 if Bitcoin experiences a near-term correction, citing correlation with Bitcoin and key Fibonacci support levels.
- Another analyst, CasiTrades, sees $XRP in a Wave 4 relief bounce, with potential lower targets if key retracement levels fail to hold, but notes these levels may offer long-term buying opportunities.
- Despite short-term downside risks, both analysts maintain a positive long-term view on $XRP, with major lows potentially reached and macro targets still in the single-digit range.
The analyst stated on X.com that a significant Bitcoin decline would push $XRP to a deeper support level, which corresponds to certain Fibonacci extensions and a gap left by a prior liquidation event, according to the post.
$XRP had reached a textbook resistance level, while the waves on Bitcoin appear incomplete, the observer noted. The token could experience another short-term decline, with Bitcoin likely to correct before it advances to mid-resistance.
The projected Bitcoin correction could bring $XRP down to short-term support, with another wave up expected toward mid resistance, according to the analyst’s forecast.
Here's what I'm watching for on #$XRP ..#$XRP has ALREADY reached its textbook .382 resistance at ~$1.53 BUT the waves on #$BTC look to be incomplete… On #$BTC, I'm expecting a short-term correction down to ~$65.8k and then ANOTHER push up to the .5 resistance level at $75.4k.… pic.twitter.com/bR675LJwgc
— TARA (@PrecisionTrade3) February 7, 2026
Despite the near-term outlook, TARA maintains a long-term positive view on $XRP, with macro targets remaining in the single-digit range, the post stated. The analyst noted that $XRP could have bottomed around the current range, but Bitcoin continues to largely drive price action for the altcoin and the broader cryptocurrency market.
Another analyst, CasiTrades, stated that $XRP appears to be in a Wave 4 relief that could send it toward a critical retracement level. CasiTrades warned that if $XRP fails to convert that level into support, it would establish a final wave down targeting significantly lower levels.
The current relief bounce has reset momentum indicators sufficiently that a move down would likely produce a bullish divergence, making those levels attractive long-term buy zones, according to CasiTrades. Alternatively, if $XRP reclaims the key level, the analyst advised waiting for confirmation of a back-test of support before using that as an entry point.
CasiTrades told investors that major lows have been reached, and that there is a possibility the final wave down fails, according to the post.
At the time of reporting, $XRP was trading lower on the day.
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