XRP traded largely sideways on Thursday as the broader crypto market struggled to regain upward momentum after recent liquidity injections. Over the past week the token fell nearly 7%, mirroring weakness across major cryptocurrencies.
Analyst ChartNerd said XRP is trading at an estimated 50–60% discount versus earlier levels but cautioned the bargain doesn’t mean the price has bottomed. He noted the market has not reclaimed key resistance zones or major macro exponential moving averages (EMAs) that would signal a confirmed bullish shift, leaving further downside on the table. ChartNerd flagged a decisive break above roughly $2.40 as the level that would invalidate the bearish case and could mark the start of a new uptrend.
Analyst Tara, using wave analysis, outlined a corrective scenario where XRP is in a Wave 2/5 retracement that could push the price toward $1.51—the 0.618 Fibonacci retracement. She warned that move could trap overly optimistic traders if momentum fails to continue, and suggested a following wave might take prices to about $1.12 (possible double bottom). In a more bearish outcome the correction could extend to around $0.87, an important macro support.
Analyst Dark Defender argued XRP’s moves still align with a broader technical structure rather than random action, implying the current consolidation could be part of a larger formation. Celal Kucuker offered a longer-term projection for September–December mapping a sequence of levels—$2.40, $1.10, $1.80, $0.90—before targeting as high as $8.60.
At press time XRP traded at $1.42, down about 0.48% over the past 24 hours.