XRP’s Wave C Surge May Precede Drop Below $2, Says Analyst

XRP is currently trading above $2, with technical analysis indicating a potential complex corrective structure.

CasiTrades suggests a possible bullish push for XRP before a downward turn.
The analysis anticipates a Wave C move, potentially lifting XRP above $2.2 before a correction below $2.
Recent pullback to $2.03 fits within the Elliott Wave theory as part of a deeper B wave, aligning with Fibonacci retracement levels.
Next target for the C wave push is around $2.26, with potential extension to $2.28.
This zone represents strong resistance due to prior highs and overlapping Fibonacci projections.

The C wave could subdivide into five smaller waves, indicating bullish momentum if it develops cleanly. Reaction near $2.26-$2.28 will be critical for confirming future trends.

A Post-C Rejection Could Drag XRP To $1.65

After the C wave, there's a risk of a rejection leading to a larger Wave 3 downturn.
If this occurs, XRP may drop towards macro support at $1.65.
This bearish scenario depends on how the C subwaves form and if there is a clear rejection.