XRP Fails to Form 5-Wave Advance, Risk of Deep Pullback Grows

XRP could face a deep price decline after failing to complete a five-wave rise, according to analyst More Crypto Online. He believes the likelihood of a larger decline has increased. In a recent post on X, the analyst said XRP failed to form the expected five-wave pattern. He is now watching to see whether the price forms a three-wave rebound, which would indicate a weaker recovery. More Crypto Online also noted that XRP is approaching the 61.8% Fibonacci retracement level of its latest rebound, increasing the risk of a deeper correction. According to CoinMarketCap, XRP is trading at around $1.31, down 1.3% over the past day and 18.5% over the past 30 days.

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