thecryptobasic.com
A veteran analyst has outlined a fresh short-term roadmap for $XRP, warning that the current structure could mislead bullish traders before the next major move unfolds.
Tara, a long-time market watcher known for tracking both Bitcoin and $XRP cycles, says the asset is now approaching a critical phase resembling a Wave 2/5 retracement.
According to her latest outlook, $XRP could rise toward a key resistance level around $1.51, based on the 0.618 Fibonacci level, which also aligns with a typical correction pattern.
Key Points
- A veteran analyst warns $XRP’s current setup may trap bullish traders before a deeper corrective move unfolds.
- $XRP could climb toward $1.51 resistance, but the move may be a temporary bounce rather than true strength.
- After the rebound, a Wave 3 decline could follow, with downside targets near $1.12 and $0.87 support zones.
- Despite short-term risks, the analyst maintains a long-term bullish outlook, with $XRP potentially reaching $9.
Possible $XRP Price Drop Could Mislead Buyers
Even though prices might rise slightly in the short term, Tara warns that this does not necessarily mean $XRP is gaining strength. She says it could simply be a temporary bounce that tricks buyers into expecting a breakout.
In her view, after this small rebound, $XRP may enter a larger downward move (Wave 3), which could push the price significantly lower.
Important Levels to Watch
If $XRP’s price continues to fall, Tara highlights a few key areas where it might find support:
- Around $1.12, where the price could form a double bottom
- Around $0.87, a strong long-term support level
These levels align with earlier projections from several analysts who have identified the $0.87–$0.93 region as a key accumulation zone, even if not all expect it to be reached.
Context: Final Shakeout Still in Play
This latest plan builds on Tara’s earlier view that $XRP may still be undergoing a “final shakeout” before a larger bullish expansion. Previously, she highlighted the $1.47 region as a textbook support level tied to the 0.618 Fibonacci retracement.
While $XRP has recently hovered in the mid-$1.40 range after facing rejection near $1.60, the current structure suggests the market remains undecided, balancing between a relief bounce and a deeper correction. At the time of writing, $XRP is trading at $1.42, up 0.38% over the past day.
Long-Term Bullish Case Remains
Despite the short-term caution, Tara has not changed her broader outlook. She continues to view $XRP as undervalued over the long term, previously outlining a conservative target as high as $9 if the market completes its accumulation phase.
For now, however, the focus remains on whether $XRP completes this corrective bounce or if the anticipated Wave 3 move begins sooner than expected.