Analyst warns XRP risks drop below $1.30 toward $1.15

Analyst Hov: XRP stays corrective, risks grow below $1.30–$1.35; reclaim $1.50 to target $1.80

XRP isn’t showing an impulsive reversal on the weekly chart. Hov sees a corrective structure and warns of downside if the current range breaks and bulls don’t act fast on X and via recent coverage at NewsBTC.

Hov’s weekly Elliott Wave count maps XRP from the 2018 top through 2019/2020 lows, the 2021 recovery, to today. The bounce from recent lows prints “threes,” not a five-wave impulse, which signals a correction and leaves room for continuation lower source.

Price has sat in a $1.30–$1.35 range for days. Lose it, and the odds of a breakdown rise, especially on a higher‑timeframe close below support NewsBTC and the earlier warning on a further leg down here.

The 12h chart shows deeper support near $1.15, aligning with the 0.5 Fib retrace. If the range fails, that’s the next logical test NewsBTC.

“There’s still room to recover, but we gotta do it quickly,” Hov wrote, noting XRP is barely holding its key HTF level quote.

On Hov’s chart, the HTF cyan support spans $1.45–$1.70. The bullish path remains valid while price holds above the mid‑2023 sub‑wave 1 high near $0.88 NewsBTC.

Near term, bulls need to reclaim the $1.50 “white box” and close above it. A sustained break opens room to $1.80, per the same map Hov’s thread.