A veteran analyst has outlined a fresh short-term roadmap for XRP, warning that the current structure could mislead bullish traders before the next major move unfolds.
Tara, a long-time market watcher known for tracking both Bitcoin and XRP cycles, says the asset is now approaching a critical phase resembling a Wave 2/5 retracement.
According to her latest outlook, XRP could rise toward a key resistance level around $1.51, based on the 0.618 Fibonacci level, which also aligns with a typical correction pattern.
Key Points
- A veteran analyst warns XRP’s current setup may trap bullish traders before a deeper corrective move unfolds.
- XRP could climb toward $1.51 resistance, but the move may be a temporary bounce rather than true strength.
- After the rebound, a Wave 3 decline could follow, with downside targets near $1.12 and $0.87 support zones.
- Despite short-term risks, the analyst maintains a long-term bullish outlook, with XRP potentially reaching $9.
Possible XRP Price Drop Could Mislead Buyers
Even though prices might rise slightly in the short term, Tara warns that this does not necessarily mean XRP is gaining strength. She says it could simply be a temporary bounce that tricks buyers into expecting a breakout.
In her view, after this small rebound, XRP may enter a larger downward move (Wave 3), which could push the price significantly lower.
Important Levels to Watch
If XRP’s price continues to fall, Tara highlights a few key areas where it might find support:
- Around $1.12, where the price could form a double bottom
- Around $0.87, a strong long-term support level
These levels align with earlier projections from several analysts who have identified the $0.87–$0.93 region as a key accumulation zone, even if not all expect it to be reached.
Context: Final Shakeout Still in Play
This latest plan builds on Tara’s earlier view that XRP may still be undergoing a “final shakeout” before a larger bullish expansion. Previously, she highlighted the $1.47 region as a textbook support level tied to the 0.618 Fibonacci retracement.
While XRP has recently hovered in the mid-$1.40 range after facing rejection near $1.60, the current structure suggests the market remains undecided, balancing between a relief bounce and a deeper correction. At the time of writing, XRP is trading at $1.42, up 0.38% over the past day.
Long-Term Bullish Case Remains
Despite the short-term caution, Tara has not changed her broader outlook. She continues to view XRP as undervalued over the long term, previously outlining a conservative target as high as $9 if the market completes its accumulation phase.
For now, however, the focus remains on whether XRP completes this corrective bounce or if the anticipated Wave 3 move begins sooner than expected.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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