XRP spent the better part of four months sideways in a narrow range, off its all-time high of $3.65. However, one technical analyst believes that this prolonged decline is coming to an end, the decline is almost over and XRP so getting closer to the bottom vital enough to matter to traders.

Narrow range showing tardy stage compression

Protechor analyst, entry on Xhas been monitoring a key support zone on the XRP daily chart for over a year. His readings suggest that the extended sell-off from tardy 2025 to early 2026, which is wave C of the broader corrective sequence, has ended or is close to ending.

The evidence lies in what the last four months of price action have quietly accumulated. XRP’s price action over the past four months has been confined to a tight band of support roughly between $1.30 and $1.70. This compression phase appears to form the second part of the descending triangle.

This descending triangle pattern is observable on the daily chart. Since January 2026, XRP has formed a series of lower highs, remaining relatively stable around $1.28-$1.31. At the time of writing, the price of XRP is $1.43.

According to the analyst, the move from 2025 highs of $3.65 down to this range represents either a completed Wave 2 or Wave B. in Elliott Wave terminology. In addition, the analysis identified subwaves in the last correction step, labeling them from (a) to (e). The structure suggests that the wave(s) is now underway and completes the triangle before the final push.

Final color or low level Already Has he arrived?

Protechtor carefully outlines two paths forward. If it is true that XRP is currently in the tardy phase of a descending triangle, then the first path is that the descending triangle resolves with a characteristic push downwards. This will be a move below the wave (d) low at $1.28, which would mark a final breakout before the price turns sharply higher.

According to the analyst, such a move would significantly raise the risk of hitting the bottom in this case, because triangles usually end with a quick push that is quickly undone.

The second path is that XRP has already made its significant low. A break above the top of wave (c) would invalidate the triangle structure and indicate that the corrective sequence has ended earlier than the pattern would suggest.

Either way, analysts’ conclusions point in the same direction: “In both cases, I expect we are close to a significant bottom,” he said. These lower projections are just noise in the context of a larger bullish structure it remains intact.

Featured image from Adobe Stock, chart from Tradingview.com