XRP could fall to $0.87 if it fails to break $1.65 resistance, analyst says

An analysis based on Elliott Wave theory suggests that XRP has a high probability of falling to $0.87 if it fails to break through the $1.65 resistance level. Crypto analyst Casi, who has approximately 32,000 followers on X, stated that traders should not be misled by XRP's recent rebound. According to the analysis, the range-bound trendline that held for the past few weeks has been broken to the downside and is now acting as resistance. On the 15-minute chart, the recent upward movement appears to be a wave two rebound. The Relative Strength Index (RSI) also shows a clear uptrend, and as long as this trendline holds, the rebound may continue. However, an immediate break could initiate the next downward wave. Casi explained that while the scenario would change if XRP could breach and hold the $1.65 resistance, a drop to $0.87 is currently more likely.