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Elliott Wave Warns: XRP May Need One More Dip Before Rebound

Guavy AI Editorial Team
Instruments
XRP
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XRP's recent relief bounce may not mark the end of its current pullback, according to the Elliott Wave theory. The 1-hour chart shows that XRP has not yet formed a lasting bottom and could still drop into the support zone.

The current structure started with XRP's recovery from $0.99 in early August 2026, marking its strongest monthly performance for the month since 2021. The price rose from around $0.99 on Aug. 11 to $1.70 by Aug. 22, a gain of 28.5%.

Notably, XRP trades above its moving averages and has seen continued inflows into US spot XRP ETFs. However, the Elliott Wave structure suggests that there may be one more dip before a sustained recovery begins.

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