XRP Approaches Key Breakdown Level: Analyst Warns of One Last Decline

XRP's price movement in November has pushed it below $2, yet technical analysis indicates that its downturn may not be finished just yet.

Key Takeaways

XRP is experiencing a downturn, having fallen below $2.
An analyst suggests XRP is in the final stage of a corrective Elliott Wave structure.
Key Fibonacci levels indicate further downside, with a target of approximately $1.65.
Coordination in price movement between XRP and Bitcoin suggests a potential for future bullish reversals.

Featured image from Gemini, chart from TradingView

A recent analysis by crypto expert CasiTrades indicates that XRP is nearing the final stages of its corrective cycle. The analyst believes the current price movements form a clear Elliott Wave structure heading toward a final low of approximately $1.65 before experiencing a significant bullish turnaround.

XRP Falls Below Fibonacci Levels Amid Wave Development

In recent days, XRP has seen increased volatility as it continues to reach fresh lows throughout November. Observations of price movements on major exchanges reveal a steady decline below key Fibonacci retracement levels, pushing XRP deeper into corrective territory.

CasiTrades highlighted that XRP's dip below the 0.5 Fibonacci retracement level on Coinbase confirmed further bearish action. The analyst had previously warned that breaching this critical level would open the floodgates to selling pressure toward the extended Wave 3 support at around $1.84. This target was hit accurately, while Binance’s chart noted its macro .5 level around $1.88.

XRP market cap currently at $122 billion. Chart: TradingView

Although the recent rebound above $1.9 might appear to signal a reversal, it is, in fact, a subwave 4 relief rally. This suggests that XRP is temporarily recovering from being oversold, yet the overall market structure indicates one last downward move is likely before a trend reversal occurs.

According to Fibonacci analysis and wave count, the technical forecast for XRP includes a retest of familiar resistance areas around $2.00 or $2.09 before the final decline begins.

🚨 Get Ready! XRP Likely to Test the Macro .618! 🚨
XRP has officially broken below its .5 retracement on Coinbase, and as I mentioned in my last update, a failure at this level means the next target will be the extended Wave 3 support near $1.84. We've now reached that target perfectly and… pic.twitter.com/tSQdVAlpdY
— CasiTrades 🔥 (@CasiTrades) November 21, 2025

🚨 Get Ready! XRP Likely to Test the Macro .618! 🚨
XRP has officially broken below its .5 retracement on Coinbase, and as I noted in my previous update, if that level fails, the next target will be the extended Wave 3 support around $1.84. We’ve clearly reached that target now and… pic.twitter.com/tSQdVAlpdY
— CasiTrades 🔥 (@CasiTrades) November 21, 2025

$1.65: The Critical Level to Complete the Correction

CasiTrades emphasizes that the pivotal zone for XRP lies at the macro 0.618 support, approximately $1.65. This level is consistent across both Coinbase and Binance, aligning with the analyst's expectations for where Wave 5 of the correction should conclude.

The chart above illustrates a descending wedge converging on macro support, accompanied by a Relative Strength Index (RSI) trend that is building bullish divergence. These indicators suggest a flattening momentum. According to CasiTrades, if XRP dips to the $1.65 level, it could mark the end of the corrective phase.

The analyst also noted that Bitcoin's chart corresponds closely with XRP's structure. Currently, Bitcoin is nearing its own macro 0.382 retracement but has yet to fully reach it.

The expectation is that XRP's final drop to $1.65 will coincide with Bitcoin sliding to a clean $80,000 touch. CasiTrades forecasts Bitcoin to enter its Wave 5 advance toward new all-time highs shortly after reaching its support.

If this scenario unfolds, both assets would hit their macro support levels simultaneously, paving the way for a synchronized bullish reversal.

As of the latest update, XRP is trading at $2.02.