XRP has spent the better part of four months grinding sideways inside a narrow range band, far removed from its $3.65 all-time high. But one technical analyst believes this extended decline is running out of road, the decline is nearly done, and XRP is nearing a bottom significant enough to matter for traders.
A Tight Range Showing Late-Stage Compression
Analyst Protechtor, posting on X, has been monitoring a key support zone on XRP’s daily chart for more than a year. His reading is that the extended selloff from late 2025 through early 2026, which is Wave C of a broader corrective sequence, is either complete or approaching completion.
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The evidence lies in what the past four months of price action have quietly assembled. XRP’s price action in the past four months has been confined within a narrow support band roughly between $1.30 and $1.70. This compression phase appears to be forming the latter portion of a descending triangle.
This descending triangle pattern is visible on the daily chart. XRP has formed a series of lower highs since January 2026 while holding a relatively stable floor around $1.28 to $1.31. At the time of writing, the XRP price is trading at $1.43.
According to the analyst, the move from the 2025 highs at $3.65 down into this range is either a completed Wave 2 or Wave B in Elliott Wave terms. Furthermore, the analysis identified sub-waves within the final leg of the correction, labeling them (a) through (e). The structure suggests wave (e) is now in progress, completing the triangle before a final thrust.
A Final Flush Or Has the Low Already Arrived?
Protechtor is careful to present two paths forward. If it is true that XRP is currently in the late stages of a descending triangle, then the first path is that the descending triangle resolves with a characteristic downside thrust. This is going to be a move below the wave (d) low at $1.28, which would represent a final shakeout before price reverses sharply higher.
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According to the analyst, such a move would raise the odds here significantly that the bottom is being put in, as triangles typically end with a swift thrust that is quickly retraced.
The second path is that XRP has already seen its significant low. A breakout above the wave (c) high would invalidate the triangle structure and imply that the corrective sequence ended earlier than the pattern would suggest.
Either way, the analyst’s conclusion converges on the same destination: “In either case I expect we are near a significant bottom,” he said. These bottom projections are just noise in the context of a larger bullish structure that remains intact.
Featured image from Adobe Stock, chart from Tradingview.com
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