XRP Outlook Faces Bearish Wave Pressure

XRP Outlook remains cautious as Elliott Wave signals continued downside risk while buyers defend key support near the psychological $1 level.

• XRP remains below key resistance as Elliott Wave analysis suggests the broader corrective structure is still unfolding.
• Buyers continue defending support near the psychological $1 region despite persistent selling pressure across higher timeframes.
• Trading volume has increased while XRP consolidates, leaving traders focused on the next confirmed directional breakout.

XRP Outlook remains cautious as traders monitor technical signals pointing toward an unfinished corrective structure. Buyers continue defending key support while overhead resistance limits stronger recovery attempts.

Elliott Wave Keeps Downside Scenario Active

The latest four-hour chart presents a bearish Elliott Wave count for XRP. Price continues respecting a descending trendline across recent sessions. Lower highs and lower lows still define the broader structure.

Source: X

More Crypto Online shared the updated technical outlook through a post on X. The analyst stated XRP could still be developing a third bearish wave. That scenario keeps downside risk under close observation.

The current wave count suggests the correction remains incomplete. Elliott Wave theory often identifies Wave Three as the strongest decline. Selling momentum typically accelerates during this stage.

Recent price action aligns with that interpretation. XRP extended below previous swing lows without meaningful recovery. That movement maintained the prevailing bearish sequence.

Resistance Levels Continue Limiting Recovery

The descending trendline remains the dominant technical barrier. Several recovery attempts failed beneath that resistance line. Sellers continued regaining control after each rebound.

Fibonacci retracement levels also reinforce nearby resistance. The 50%, 61.8%, and 78.6% zones remain overhead. Those areas could attract additional sales during relief rallies.

Support near the psychological $1.00 level continues drawing buying interest. The latest market data showed XRP trading around $1.04. Price remains above immediate support despite recent volatility.

Short-term rebounds have remained relatively shallow. Buyers have yet to confirm a stronger trend reversal. Technical confirmation remains absent across higher timeframes.

Consolidation Follows Intraday Recovery

The latest CoinMarketCap chart reflects improving short-term stability. XRP recovered after briefly falling toward $1.01 during the session. Buyers responded quickly at lower price levels.

The rebound lifted XRP back above $1.03 before testing resistance. However, advances stalled near the $1.05 area. That level continues limiting bullish momentum.

Trading volume increased by roughly 7.5% during the latest session. Rising participation accompanied the period of consolidation. Traders appear positioned for the next directional move.

Market capitalization remained near $64.86 billion, supporting XRP’s position among leading digital assets. Meanwhile, the broader technical structure remains unchanged. Traders continue watching support and resistance for confirmation of the next sustained move.