XRP Analyst Sees Significant Bottom Looming as Triangle Pattern Forms

A technical analyst is predicting a potential turning point for XRP's price action, suggesting that the cryptocurrency is nearing a significant bottom. Protechtor, an analyst on X, has been monitoring a key support zone on XRP's daily chart for over a year and believes that the extended decline from late 2025 to early 2026 may be coming to an end.

The analyst points out that XRP's price action in the past four months has been confined within a narrow support band between $1.30 and $1.70, forming a descending triangle pattern on its daily chart. This pattern is characterized by a series of lower highs since January 2026 while holding a relatively stable floor around $1.28 to $1.31.

Protechtor suggests that the move from the 2025 highs at $3.65 down into this range may be either a completed Wave 2 or Wave B in Elliott Wave terms, with sub-waves labeled (a) through (e). The analyst believes that wave (e) is now in progress and that the structure suggests a final thrust before a reversal.

The possible paths forward include a final flush below $1.28, which would represent a move below the wave (d) low and potentially signal a significant bottom, or a breakout above the wave (c) high, which would invalidate the triangle structure and imply that the corrective sequence ended earlier than expected.