XRP Falls Below Fibonacci Level, Analyst Predicts Further Decline to $1.65

XRP's price has fallen below $2 in November, with technical analysis indicating further potential declines. Analyst CasiTrades suggests that XRP is nearing the end of its corrective structure, possibly dropping to as low as $1.65 before a bullish reversal.

XRP Price Movement

XRP's recent volatility has pushed it into lower levels, breaking key Fibonacci retracement points.
On Coinbase, XRP fell below the 0.5 Fibonacci level, triggering more selling towards $1.84.
A temporary recovery above $1.9 is seen as a subwave 4 relief, not a true reversal.
The analysis predicts XRP will test resistance around $2.00-$2.09 before another decline.

Key Levels and Projections

The macro 0.618 support at approximately $1.65 is crucial for completing the correction.
This level aligns on both Coinbase and Binance, marking the expected end of Wave 5.
Momentum indicators show flattening, suggesting an approaching end to the downtrend.

The analysis also notes Bitcoin's movements are in sync with XRP's structure. Bitcoin is nearing its own macro retracement level, and both assets may complete their corrections simultaneously, paving the way for a synchronized bullish reversal. Currently, XRP is trading at $2.02.