2026-7-28 10:30 |
XRP price got hit during the ongoing market correction. The token fell around 5% today and is now trading at $1.05. The broader crypto market is in the red, with Bitcoin below $64,000 and Ethereum under $1,900.
But one of my favorite analysts who posts XRP price predictions, CasiTrades, just weighed in again. There are also some Clarity Act news worth covering.
CasiTrades: “The Purple Scenario Continues”CasiTrades posted a clear XRP price update. Her message was direct: the purple scenario continues to play out.
During Friday’s livestream, she highlighted the importance of the $1.09 level. She expected a small reaction for subwave 2, and that is exactly what happened. She also warned that any bounce would likely have a strong rejection, and now price is right back to macro support.
Her key message: “Critical time in the market to confirm purple plan to $0.87 support. I believe the next wave is a break toward $1.00.”
The subwaves continue to develop as expected and still point toward the $0.87 macro support.
XRP Chart Analysis: Bearish Structure IntactThe XRP 1-hour chart has turned decisively bearish after failing to sustain momentum above the $1.11-$1.12 resistance zone. Price was rejected near the 0.382 Fibonacci retracement around $1.1156, reinforcing that sellers remain in control following the recent lower high.
The break back below the green support zone around $1.07-$1.09 also places XRP beneath the descending black trendline. That signals that the short-term trend continues to favor the downside unless buyers quickly reclaim this area.
Elliott Wave perspective: The chart indicates that the XRP price may have completed a corrective bounce before beginning another impulsive leg lower. The projected wave count outlines a series of lower highs and lower lows, with an interim rebound toward $1.02-$1.05 possible before sellers attempt another decline.
If this wave structure remains valid, the next bearish leg could target the $0.98-$0.94 region, where the 1.618 extension and additional Fibonacci support levels converge.
Source: X/@CasiTradesThe broader downside target lies inside the large green demand zone between approximately $0.86 and $0.93. This area is technically significant because it combines previous support, Fibonacci retracement levels, and the projected completion of the wave sequence. A move into this region would represent a deeper correction from July’s highs while potentially offering buyers their first high-probability accumulation zone if bullish reversal signals emerge.
Momentum indicators also support the cautious outlook. The RSI has broken lower after forming a bearish divergence, with price making higher highs while momentum failed to confirm the move. The indicator is now approaching oversold territory, which means bearish momentum is strengthening in the near term.
While oversold conditions could eventually trigger a relief rally, the prevailing technical structure remains bearish as long as the XRP price trades below the descending trendline and fails to reclaim the $1.10-$1.12 resistance area. A sustained break above that zone would invalidate much of the current bearish wave count and shift sentiment back in favor of the bulls.
Clarity Act Math: The Senate RealitySenate floor time is the most valuable commodity in Washington. The Senate is scheduled to leave August 7 – leaving roughly two weeks. Under Senate Rule XXII, once cloture is invoked on a major bill, that measure becomes the unfinished business to the exclusion of all other business until it is disposed of. You generally cannot advance other contested legislation at the same time.
Major bills that could come to the floor in this short window include CLARITY, the SAVE Act, a Russian sanctions bill, budget-related legislation, or the NIL bill. Choosing to advance any one of them will come at the expense of the others, because the Senate can effectively process only one major contested measure at a time.
Even if CLARITY were brought up today, the procedural steps – cloture, amendment process, second cloture, and up to 30 hours of debate – make finishing before recess extremely difficult without unanimous consent to waive process, which is rare on contested bills.
I know many people are disappointed it won’t clear by early August. That does not mean CLARITY is done for the year.
Realities of CLARITY Act expectations and Senate Rules and Math:
Senate floor time is the most valuable commodity in Washington. The Senate is scheduled to leave August 7 — leaving roughly two weeks. Under Senate Rule XXII, once cloture is invoked on a major bill, that measure…
The bill includes critical protections for everyday crypto users. If a crypto exchange goes bankrupt, customers’ assets are currently at risk of being treated as the exchange’s property and used to pay off the company’s debts – leaving regular people with nothing. CLARITY’s bankruptcy remoteness provisions help prevent that outcome and keep customers’ crypto from being swept up to satisfy the exchange’s creditors.
Having the text out for people to read and digest over the recess, while Senate staff continue building toward consensus, can still set up quicker movement in September. Every step is progress.
Read more Clarity Act news: Pro-XRP Lawyer Warns: Clarity Act Faces “Party Over Country” Block
My Take: XRP Price Could Go Lower Before Any RecoveryCasiTrades’ bearish scenario is playing out exactly as she outlined. The rejection at $1.09, the break below support, and the wave structure all point lower. The $0.87 target is becoming increasingly likely.
The Clarity Act delay adds to the bearish pressure. The Senate is running out of time before the August recess. The bill could slip to September or later. That means the regulatory clarity catalyst that the market was hoping for is not coming anytime soon.
For XRP, the short-term direction is down. The next support is $1.00 , then $0.94 , and finally $0.87. I would not be buying XRP here. The chart is bearish, and the fundamentals are not strong enough to justify a position.
I am watching the $0.87 level as a potential accumulation zone. But I need to see confirmation – a bullish reversal signal, a break above the descending trendline, or positive news – before considering an entry.
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The post XRP’s Next Price Wave Could Be Violent as Clarity Act Faces August Break appeared first on CaptainAltcoin.
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