When XRP reached its all-time high of $3.65 in July 2025, many observers assumed the cycle had peaked. However, crypto analyst CasiTrades (@CasiTrades) views the situation differently, presenting a technical argument that is capturing widespread interest.
She published a macro Elliott Wave analysis of XRP, contending that the $3.65 peak was not the top of the cycle. Instead, she interprets it as Wave 5 of a finished five-wave impulse sequence that kicked off when XRP’s breakout from $0.50 occurred in late 2024.
According to Elliott Wave Theory, a completed five-wave impulse leads into a corrective phase prior to the start of the next larger-degree impulse. She maintains that XRP is currently navigating that exact corrective phase.
PEOPLE HAVE NO IDEA HOW BULLISH THIS IS GOING TO GET!!!
I don't think most people realize that ripple:native is STILL in the same macro bullish trend that began with the $0.50 breakout in 2024.
THAT ALL-TIME HIGH WAS JUST WAVE 1 ON A MASSIVE SCALE!!!
What we're… pic.twitter.com/7bSoLI29sG
— CasiTrades (@CasiTrades) November 6, 2026
Where XRP Stands Today
XRP trades near $1.18 at present, positioned inside the macro Wave 2 correction identified by CasiTrades. Her chart highlights a vital support zone between roughly $0.86 and $1.09, where multiple Fibonacci levels converge. The $0.77 low recorded on Binance functions as a significant reference point, which she designates as a potential bottom for Wave 2.
The Case for Wave 3
CasiTrades remains clear about her expectations for the future. “That all-time high was just Wave 1 on a massive scale,” she noted. Within her wave count, the 2024-2025 rally that drove XRP to its all-time high of $3.65 constitutes only the initial wave of a substantially larger macro framework. Should this count prove accurate, the subsequent movement will be a macro-degree Wave 3.
Within Elliott Wave analysis, Wave 3 typically serves as the longest and most powerful wave within an impulse sequence. Her chart outlines Wave 3 targets stretching from $2.41 at the 0.382 extension up to $3.28 and higher, with additional Fibonacci extension targets reaching $3.60 and above.
The structural layout on the right side of her chart demonstrates Wave 3 breaking down into its own five-wave pattern, with subwave targets mapped across 2026 and into 2027.
Early Subwaves Already in Motion
Through subsequent posts, CasiTrades indicated that macro Wave 3 may have already commenced. “Technically, macro W3 may have already started with the $0.77 low printed on Binance,” she wrote. “We are just in the early subwaves of it.” She also emphasized that there is “no better entry than W2.”
This perspective frames current price action not as an extension of the correction, but as the kickoff of the next major upward trend. She added that “most consider wave 3/3 the bull run,” pointing to the third wave within Wave 3 as the most explosive phase of the cycle.