CoinsKid: XRP's Bounce Was an ABC Retrace — Slips Below $2, Could Fall to $1.30–$1.40

XRP has lost upside momentum and is slipping back below $2 after recent recovery attempts stalled, putting sellers back in control of the near-term picture. Technical trader CoinsKid, posting on X, says a broader corrective structure is forming on the 5‑day chart that could drive XRP significantly lower unless key levels are reclaimed. What the chart shows - CoinsKid interprets XRP’s recent price action as a three-wave (ABC) corrective move on the 5‑day timeframe. The implication: the bounce to about $2.40 was likely a retracement inside a larger downtrend, not a sustained return to bullish control. - The token has been printing closes beneath short-term dynamic support across higher timeframes, and crucially has repeatedly closed below a custom indicator—the “CoinsKid ribbon,” a band of moving averages that had served as a trend-strength guide through most of 2025. - The recovery attempt stalled at a marked sell signal around the ribbon, and sellers have handled the broader structure since the October 2025 flash crash. Where downside could land - The bearish scenario targets a rising multi-year support trendline that stretches back to 2020. That trendline converges with a key demand zone around $1.30–$1.40 on the 5‑day chart—highlighted by CoinsKid as the next major area of interest. - CoinsKid projects that, if the corrective sequence continues, XRP could rotate down from the descending resistance line toward that $1.30–$1.40 range over the coming months. This would complete the ABC correction that began after XRP’s July 2025 peak at $3.65. Price snapshot and invalidation level - At the time of CoinsKid’s note, XRP was trading near $1.96, about 4.7% lower over the previous 24 hours. - The analysis says the bearish path would be invalidated by a sustained move back above the 5‑day CoinsKid ribbon—only then would the odds of revisiting the lower support zone fall materially. Bottom line According to CoinsKid’s 5‑day technical read, XRP’s recent bounce looks like a counter-trend retracement inside a larger corrective pattern. Traders should watch the 5‑day ribbon and the $1.30–$1.40 multi‑year trendline: a sustained reclaim of the ribbon would shift momentum back toward buyers, while failure to do so could leave XRP headed lower. Read more AI-generated news on: undefined/news