XRP Nears Final Bottom as Analyst Eyes End of Year-Long Correction
XRP could be approaching the end of a correction that has stretched for nearly a year, according to respected market analyst CasiTrades.
In her latest technical analysis, she argues the asset is completing the final phase of a broader Elliott Wave correction before the next major bullish trend begins.
CasiTrades believes XRP is carving out a final 5-wave decline to complete its long-running Wave 2 correction. Her roadmap calls for a drop toward $0.93 in Wave 3, followed by a relief rally to around $1.00, where former support could turn into resistance during Wave 4.
She then expects one final move into the $0.87 macro support zone to finish Wave 5 and complete the correction.
If this scenario plays out, it would mark the end of the lengthy consolidation that has kept XRP range-bound for much of the past year. At the time of writing, XRP is trading at $1.09 per CoinCodex data, leaving market participants watching closely to see whether one last flush lower is needed before a sustained recovery can begin.
Despite the cautious short-term technical outlook, XRP's long-term fundamentals continue to strengthen.
This growing confidence recently received a major boost from Forbes Advisor, which ranked XRP as the 4th-best cryptocurrency to invest in, behind only Bitcoin, Ethereum, and BNB.
The publication based its rankings on objective factors such as real-world utility, liquidity, market capitalization, trading activity, and long-term investment potential, underscoring XRP's position as one of the industry's most established digital assets.
XRP Exchange Supply Dries Up as Long-Term Holders Double Down
On-chain data further supports the bullish narrative. Crypto analyst ChartNerd points to a steady decline in XRP held on centralized exchanges over the past year.
Historically, increasing exchange balances signal rising selling pressure, while declining reserves often indicate investors are moving assets into self-custody for long-term holding.
This trend is becoming increasingly evident, with significant amounts of XRP flowing into cold wallets and off exchanges, reducing the liquid supply available for sale. The shift suggests investors are accumulating rather than preparing to exit the market.
As ChartNerd aptly summarized, XRP is being "stored offline during the rainy days for a new dawn."
Retail sentiment is also beginning to improve. Market data shows retail interest has climbed to a 5-week high just as analysts identify a key bottoming window.
Whether XRP first retests the $0.87 support level or begins recovering sooner, the combination of strengthening fundamentals, declining exchange reserves, rising retail participation, and growing institutional recognition suggests the asset could be nearing one of its most significant inflection points in months.
