XRP News Today: XRP's $1.65 Inflection Point: Reversal Signal or Deeper Decline?

XRP, Ripple's native cryptocurrency, is entering a critical juncture as technical analysts warn of a potential final leg lower before a bullish reversal could take hold. The asset has been trading below key Fibonacci support levels, with price action suggesting a deepening bearish structure. Analysts, including prominent trader CasiTrades, have highlighted that XRP's current trajectory aligns with an extended Elliott Wave correction, pointing to a possible drop toward $1.65.

Recent price action has seen XRP slump below the $2.15 support level, stabilizing temporarily above $2.11 amid heavy selling pressure. The decline, which occurred despite a lack of major fundamental catalysts, has been exacerbated by broader crypto market weakness and Bitcoin's "Death Cross" technical pattern, which has heightened risk-off sentiment across the sector. Volume surged 76% above average during the breakdown, underscoring institutional participation in the selloff.

Technical analysts argue that XRP's move below the 0.5 Fibonacci retracement level at $2.03 marks a pivotal moment in its correction. CasiTrades has noted that this level could serve as the final low of a larger Wave 2 correction, particularly if Bitcoin simultaneously reaches its own support at $88,000. A successful test of $2.03 would likely set the stage for a Wave 3 rally, potentially propelling XRP toward new all-time highs. However, a breakdown below $2.03 could extend the decline to the 0.618 Fibonacci level at $1.65, which analysts view as a key inflection point.

The market is also closely watching institutional flows, with XRP underperforming the broader crypto market despite the recent launch of multiple XRP-focused ETFs. Bitwise Asset Management's spot XRP ETF, set to debut on the New York Stock Exchange, joins existing funds like Canary Capital's XRPC and Franklin Templeton's EZRP, which have collectively attracted hundreds of millions in inflows. Analysts argue that these products could eventually provide a tailwind for XRP, though near-term price action remains dictated by corrective trends.

CasiTrades has emphasized that the current volatility is part of a natural accumulation phase for informed traders. "The best buying moments usually appear before the big move happens, not after," she noted, highlighting that dips to key Fibonacci levels offer strategic entry points ahead of a potential reversal. Meanwhile, Bitcoin's alignment with XRP's technical structure suggests a synchronized macro-level shift could be on the horizon.

With XRP's market cap currently hovering around $122 billion, the path forward hinges on whether buyers emerge at critical support levels. A failure to reclaim $2.15 could deepen the bearish scenario, while a successful defense of $2.03 may signal the end of the correction and the start of a new bullish cycle.