Analyst Reveals The Plan For XRP Price Using The Bitcoin Chart

Market analyst Tara provides a bearish XRP price forecast using Bitcoin chart patterns and Elliott Wave theory, predicting potential downside targets of $1.12 to $0.87. Despite current corrective upward movement toward $1.51 resistance, the analyst warns this could be a bull trap before the next major decline.

• →XRP completed a five-wave Elliott Wave decline with Wave 5 finishing near $1.362 support
• →Current upward correction targets $1.51 resistance but carries a bearish label and could trap bulls
• →Wave 3 downside targets include Double Bottom at $1.12 and macro support at $0.87
• →XRP price currently at $1.37 after failing to sustain above $1.40 resistance
• →XRP has dropped over 6% in the past week driven by lack of bullish catalysts and high market volatility