XRP traded mostly flat on Thursday as the wider crypto market failed to sustain upward momentum following recent liquidity inflows. Over the past week the token has slipped nearly 7%, reflecting weakness among large-cap cryptocurrencies.
Several analysts warned that nominal discounts do not guarantee a bottom. ChartNerd argued XRP is trading at what looks like a 50–60% discount from earlier levels but emphasized that price remains below key resistance zones and major macro exponential moving averages (EMAs). Until those EMAs and resistance areas are reclaimed, ChartNerd says downside remains possible; a decisive break above roughly $2.40 would, in his view, invalidate the bearish thesis and could signal the start of a new uptrend.
Using Elliott-wave and Fibonacci analysis, analyst Tara sketched a corrective Wave 2/5 scenario that could push XRP toward the 0.618 retracement at about $1.51. She cautioned that such a bounce could trap overly optimistic traders if momentum fades, with a subsequent leg potentially driving prices to roughly $1.12 (a possible double bottom). In a more extended correction, Tara said support could be tested near about $0.87.
Dark Defender noted that recent moves appear to fit a broader technical structure rather than random price action, suggesting the current consolidation might be part of a larger formation. Celal Kucuker offered a multi-month path for September–December, mapping a sequence of levels—$2.40, $1.10, $1.80, $0.90—before projecting an eventual target as high as $8.60.
At the time of writing, XRP was trading around $1.42, down roughly 0.48% over 24 hours. Traders should weigh these technical scenarios against macro conditions and maintain risk management, since confirmation of a new uptrend would likely require reclaiming the highlighted resistance and EMA levels.