XRP’s Elliott Wave Setup Reveals The True Danger Zone

After a rough few days, the OG token is now testing key February lows. Top Elliott Wave analyst More Crypto Online just highlighted the setup, warning that there’s still no clear confirmation of a bullish wave (c) to the upside.

Instead, he notes that B-waves can often overshoot to the downside — meaning XRP could still have more room to fall before any real recovery kicks in.

A break below the February 2026 lows could open the door to a test of $0.985, according to the analysis.

Support Levels Under Heavy Pressure

Right now, traders are laser-focused on a tight band of support. The immediate line in the sand sits around $1.14. A clean break below that level could quickly send price toward $1.10, and in a more bearish scenario, all the way down to the sub-$1 area.

Real-time momentum indicators are flashing big caution too. Relative strength (RSI) is creeping toward stronger oversold territory, while MACD signals remain hovering around the negative territory, showing buyers still lack real conviction on any rebounds.

Whale Flows Add To Market Tension

On-chain data isn’t helping calm nerves either. Whale withdrawals from major exchanges have dropped to levels not seen since 2021, which some interpret as big holders pausing rather than aggressively accumulating.

#XRP is this leverage building a trap? 👀

price dropped $1.40 → $1.17 but estimated leverage ratio CLIMBED from 0.13 → 0.18… traders are buying the dip with borrowed money ⚠️

if $1.10–$1.15 breaks, the liquidation cascade could be violent pic.twitter.com/prGMpXKoLU

— Xaif Crypto (@Xaif_Crypto) June 5, 2026

At the same time, ETF outflows have added to the overall cautious tone in recent sessions.

The Real Danger Zone For XRP Price

The bigger picture is a classic Elliott Wave stress test. If XRP can hold support and stay inside its broader uptrend structure, this could turn out to be nothing more than a healthy consolidation. 

But if selling accelerates and the February lows break cleanly, the next leg down could get ugly fast.

XRP’s current Elliott Wave setup is revealing a clear danger zone. The token is under pressure, testing important lows, and analysts are warning that a move toward $0.985 remains very much on the table if support fails.

$XRP
The price remains under pressure and XRP is now testing the February lows. I don´t see any setup that would confirm the beginning of wave (c) to the upside. Please note that B-waves can overshoot to the downside. It is also possible that the next decline has already begun,… https://t.co/SdCFrWm6kt pic.twitter.com/ubkCRqRMNW

— More Crypto Online (@Morecryptoonl) June 4, 2026

Bulls need to defend these levels aggressively. If they don’t, the “overshoot to the downside” scenario could play out sooner than many expect.

The next few days will be crucial.

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