XRP is trading within a tightening range below $1.65 resistance, approaching a technical turning point that could determine its near-term direction. Analyst CasiTrades outlined multiple scenarios in an Oct. 6 analysis, noting that the token's narrowing consolidation is reaching the point where its trend lines converge.
Under one scenario, XRP could move directly into a larger pullback without completing a final advance, bringing $1.27 into focus as a key support level. A deeper correction could extend toward $1.10, though holding either zone would preserve the broader trend structure the analyst is tracking. A new low near $0.90 would require resetting the wave count.
The analyst's support and resistance levels are based on Fibonacci retracement levels, a technical-analysis method used to identify potential price zones following significant moves.
Bullish Path Still Possible
A more bullish near-term scenario would see XRP advance toward approximately $1.70 before turning lower, completing the final wave in the analyst's current interpretation. If that rally develops, she plans to monitor the relative strength index for bearish divergence, which could signal a larger top forming.
An even stronger breakout could carry XRP toward $1.80, potentially allowing the token to retreat afterward and retest the $1.65 area from above. Holding that former resistance level as support would indicate significant strength. Veteran trader Peter Brandt identified a possible cup-and-handle formation on the daily chart, also centered near the $1.6572 level.
Trading Activity and Liquidation Pressure
XRP futures turnover across Binance, Bybit and OKX reached approximately $56.18 billion in September, according to an Oct. 6 Cryptoquant analysis. Meanwhile, liquidation pressure on Binance eased after repeated spikes from late July through September, a separate Oct. 2 assessment found.
Sustained gains would require spot demand alongside supportive volume and price structure, according to the analysis.
Longer-Term Outlook
CasiTrades maintains longer-term targets at $10, $13, $16 and beyond, conditional on the broader uptrend developing. She indicated these price levels would represent entry points as smaller retracements unfold within the larger structure.
