XRP&#8217;s price action is trading just above $2, but technical analysis of mid- 
term charts shows a more complex corrective structure for what comes next. 
According to a technical analysis shared by CasiTrades on X, XRP may still 
have one more bullish push ahead before the structure turns lower. The chart 
showing the analysis outlines a developing Elliott Wave sequence that could 
first lift XRP&#8217;s price higher, then open the door to a breakdown if support 
levels fail. Related Reading: Ethereum On Fire: User Growth Sparks Massive 
Activity Spike B Wave Dips Hint At Coming Wave C Surge Technical analysis of 
XRP&#8217;s price action on the 1-hour candlestick timeframe chart by CasiTrade 
proposes an interesting outlook that shows XRP might end up correcting below 
$2 in the coming days. This correction, however, will only play out after XRP 
finishes a Wave C move that takes its price above $2.2. The wave C, in turn, 
is expected to play out after the recent pullback to $2.03 in the past 48 
hours. According to CasiTrades, XRP’s recent pullback unfolded as a deeper B 
wave than initially expected. Instead of forming a tight consolidation, price 
traced out a full ABC move and fell into the 0.618 Fibonacci retracement 
around $2.09. This depth, however, does not invalidate the structure. Such a 
move is consistent with a B wave in the Elliott Wave theory. This retracement 
coincides with clustered Fibonacci levels and prior intraday support, and the 
next possible move from here is the next leg higher within the larger Wave 2 
structure. Now that the B wave is likely in place, the attention is towards 
the anticipated C wave push. CasiTrades identifies the golden retracement near 
$2.26 as the primary upside target, with a possible extension into the $2.28 
region where the golden pocket and the 1.236 extension converge. The chart 
highlights this zone as a dense resistance area, reinforced by prior reaction 
highs and overlapping Fibonacci projections. This C wave is expected to 
subdivide into five smaller waves. If this plays out as expected, XRP’s price 
action should feel bullish through its clean subwave development. However, the 
way price behaves as it approaches and reacts to the $2.26 to $2.28 band will 
be critical for confirming the broader outlook and if a correction is next. 
XRP Price Chart. Source: @CasiTrades on X A Post-C Rejection Could Drag XRP To 
$1.65 The current focus is on a possible push higher, but there&#8217;s still a 
downside risk after the C wave is complete. The analyst expects a rejection 
that could become the beginning of a larger Wave 3 move to the downside after 
XRP reaches the projected levels around $2.26 to $2.28. Related Reading: 
Ethereum Staking Hits Record Levels As Buterin Urges Builders To Deliver Real 
Apps If that rejection materializes cleanly, XRP could begin a sustained move 
lower, with the macro support region around $1.65 coming back into focus. 
Confirmation of this bearish path, however, depends on how the C subwaves form 
and whether price delivers a decisive rejection. Featured image from Unsplash, 
chart from TradingView

XRP Wave C Push On The Way: What Could Send Price Below $2?

Bitcoin’s recent price rebound aligns with historical bear market rally 
behavior, according to a new insights report published by Cryptoquant and its 
analysts at cryptoquant.com. Cryptoquant Says Bitcoin Demand Has Not Recovered 
Materially This week, Cryptoquant researchers note that bitcoin has climbed 
roughly 21% since Nov. 21, following a 19% decline that confirmed a bear […]

Cryptoquant: Bitcoin Demand Conditions Improve Slightly, Bear Market Still Intact

Coinbase CEO Brian Armstrong said the industry is working on several ideas to 
help community banks in the CLARITY market structure bill.

Coinbase CEO denies White House clash, says negotiations are ongoing

Monero tumbled on Jan. 17 after an onchain investigator ZachXBT linked its 
recent rally to a $280 million crypto heist. $280M Crypto Heist Reportedly 
Tied to Monero Surge The privacy-centric digital asset monero ( XMR) faced a 
sharp correction on Jan. 17, tumbling by over 5% in 24 hours and effectively 
stalling its bull rally. […]

Monero Stalls Post-ATH: How a $282M Social Engineering Scam Fueled XMR’s Rally

Over the week, Ethereum struggled to sustain any significant move to the 
upside. Although the second-largest cryptocurrency reclaimed the $3,300 price 
level, it could not break above $3,400 to continue its path towards higher 
price levels. As it stands, it appears that the Ether token is taking on a 
short-term bearish structure. However, an on-chain evaluation has recently 
been put out, which suggests that market participants might be gearing up for 
a significant move in the near-term. Related Reading: The Ethereum MACD 
Crossover That Could Lead To A Massive Bull Wave Ethereum Futures Activity 
Reaches Monthly High Following Market Inactivity In a recent QuickTake post on 
the CryptoQuant platform, analytics group Arab Chain reveals that there has 
recently been a spike in futures trading activity on the Binance derivatives 
market. This revelation is based on the Binance: ETH Futures Daily Volume 
metric, which monitors the total value of Ethereum futures contracts being 
traded on Binance each day, hence reflecting market activity, trader 
participation, and potential leverage exposure. The latest reading of the 
metric has highlighted a major shift, with trading volume climbing as high as 
$21.7 billion. According to Arab Chain, this reading marks the highest level 
since mid-December, reflecting that strong momentum has returned to the 
futures market. Notably, the spike in futures trading volume was preceded by 
a period of relative decline in the second half of December. This event 
coincides with a period of price stability, alongside a tapering risk appetite 
among traders. Interestingly, institutional investors also contributed 
prevalent aversion to risk. Arab Chain explains that the decline is a typical 
sign that market participants want to “wait and see,” instead of speculatively 
opening large positions. However, the present scenario — where futures volume 
surged — paints an opposing story. As the futures trading volume reflects 
levels above its mid-December high, it becomes apparent that interest among 
Ethereum traders is being rekindled. This is because increasing futures volume 
“is typically associated with higher leverage usage, hedging activity, and 
speculative positioning” — a line up which indicates that the market is 
preparing for significant movement. The reason for this spike could also be 
attributed to traders who are reacting to key technical levels or shifting 
expectations around near-term price action of a potential trend reversal. In 
the grand scheme, however, the Ethereum price reacts to this activity, 
depending on the alignment of spot demand with derivatives activity. Till such 
a definite sign comes up, the market stands at a point of uncertainty. Related 
Reading: Bitcoin Price Will Still Rally Above $99,000 Despite Bearish 
Sentiment, Here’s Why ETH Price Overview As of this writing, Ethereum stands 
at a price of $3,292, reflecting no real growth since the past day. Featured 
image from Flickr, chart from Tradingview

Cryptocurrency price in BMD