TLDR
- XRP broke below a multi-month triangle support, confirming a bearish trend shift.
- The price dropped to $1.14, marking a 4% daily and 14% weekly decline.
- Analyst CasiTrades identified a five-wave structure pointing to lower price levels.
- The third wave is active and targets the 1.618 Fibonacci level near $0.92.
- A short-term bounce could push XRP back toward $1.20 before further decline.
XRP has entered a downward phase after breaking below a long-standing consolidation pattern, with price action confirming earlier bearish expectations. The token trades at $1.14 after a 4% daily drop and a 14% weekly decline, reflecting sustained selling pressure. Market data shows rising liquidations and falling open interest as traders reposition following the breakdown.
XRP Price Structure Break Confirms Bearish Shift
XRP moved below the lower boundary of a multi-month symmetrical triangle, ending a consolidation phase that began in late February. The breakdown followed repeated lower highs and failed attempts to hold support near $1.35, which acted as a key structural level. As a result, price action shifted direction, and sellers gained control over short-term momentum.
The analyst known as CasiTrades stated that the move had been expected for months based on the triangle structure. She said, “The move we’ve been waiting for is now unfolding,” referring to the confirmed downside break. Her analysis identified the loss of this support as a trigger for further declines across the current structure.
The Crypto Move We’ve Been Waiting 4 Months For?!
The crypto market is finally starting to see some selling pressure come through, and XRP is breaking below a very important support level.
I’ve been watching for subwaves to develop so we could get a better idea of whether… pic.twitter.com/6QYURpGFQk
— CasiTrades
(@CasiTrades) June 4, 2026
CasiTrades outlined a five-wave sub-structure beginning from the May 14 high near $1.55, which marked the start of the current decline. The first wave ended near $1.26 on May 28, followed by a second wave recovery toward $1.36 on May 30. The third wave is now active, and it targets the 1.618 Fibonacci extension level near $0.92.
She stated that the third wave could produce a sharp decline of nearly 19% from current levels before a temporary recovery. The fourth wave could push XRP price back toward $1.20 before the final move lower completes the structure. The projected final target stands at $0.87, which represents the lower support zone identified on higher timeframes.
XRP Liquidations and Market Data Reflect Selling Pressure
Market data shows that XRP derivatives traders faced heavy losses as long positions were liquidated during the recent decline. In the past 24 hours, total liquidations reached $25.05 million, with $24.24 million coming from long positions. This imbalance reflects aggressive selling activity and forced exits across leveraged positions.
At the same time, open interest declined by 9%, while futures outflows increased as traders reduced exposure. These metrics indicate reduced confidence in short-term price stability and ongoing repositioning across derivatives markets. XRP continues to trade above the February 6 low of $1.12, which remains a nearby reference level.
The post XRP Breaks Key Support as Analyst Maps Drop Toward $0.87 appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.