XRP Fails to Form 5-Wave Advance, Risk of Deep Pullback Grows

$XRP could face a deep price decline after failing to complete a five-wave rise, according to analyst More Crypto Online. He believes the likelihood of a larger decline has increased.

In a recent post on X, the analyst said $XRP failed to form the expected five-wave pattern. He is now watching to see whether the price forms a three-wave rebound, which would indicate a weaker recovery.

More Crypto Online also noted that $XRP is approaching the 61.8% Fibonacci retracement level of its latest rebound, increasing the risk of a deeper correction.

According to CoinMarketCap, $XRP is trading at around $1.31, down 1.3% over the past day and 18.5% over the past 30 days.

$XRP Approaches Key Fibonacci Levels

The $XRP/USD one-hour chart from MCO Global Research shows $XRP trading at around $1.32082, close to the 61.8% Fibonacci retracement level at $1.30928.

Other important levels to watch are $1.29295, $1.28590, and $1.27705. If $XRP falls below its current support area, these levels could become the next downside targets. The chart also highlights $1.25 as an important price zone, with a broader support area between $1.21237 and $1.10623.

Essentially, these levels indicate where $XRP could find support if selling pressure increases.

Can $XRP Still Recover?

The analyst is concerned about the structure of $XRP’s recent rebound. In Elliott Wave analysis, a five-wave rise can signal a stronger upward move, while a three-wave bounce may indicate a weaker recovery.

If $XRP fails to form a stronger upward pattern, the risk of another price decline increases. However, holding above the nearby Fibonacci levels would help $XRP sustain its recovery. A move higher would improve the short-term outlook, while a drop below these levels could expose $XRP to further losses.

In summary, as $XRP trades near $1.32, the key question is whether its recent rebound can gain strength or whether another decline lies ahead.

$XRP Holders Urged to Focus on the Long Term

While $XRP holders grow frustrated with the cryptocurrency’s short-term price performance, prominent voices in the community are urging patience, citing historical price action.

On X, Black Swan Capitalist co-founder Vandell Aljarrah reminded investors that $XRP traded sideways for two years before its historic 2017–2018 rally. Specifically, he noted that $XRP consolidated between $0.004 and $0.011 for 742 days before surging by 64,000%.

However, some investors question whether $XRP can repeat that performance. $XRP is currently trading at around $1.32, which is 65% below its all-time high of $3.84. A 64,000% increase from here would push $XRP to $845, a target many consider unrealistic in the short term.

Nevertheless, Aljarrah’s central message is that prolonged consolidation does not necessarily rule out a major rally. He is encouraging investors to remain patient, noting that $XRP also surged 700% in the 2024/2025 market season.