XRP 'correction isn’t done yet,' analyst sees more pain ahead

The crypto market has gone through a wild month as nearly all the cryptocurrencies have lost 20%-30% of their value during the period.

XRP, the third-largest cryptocurrency by market cap, has also lost 20% in a month as it trades at $2.34. Though Ripple's recent partnership with Mastercard led to a momentary spike in XRP's price, the downtick later quietly humbled the traders.

Related: XRP at ‘make or break’, crypto analyst reveals new Christmas target

While some crypto investors might be thinking the worst is over and XRP will soon jump, a popular analyst thinks the cryptocurrency will sink even more.

On Nov. 6, @CasiTrades shared an XRP price analysis chart on X and said the market became too excited about the Mastercard announcement and got ahead of itself.

"XRP’s Correction Isn’t Done Yet!"

In the chart above, the analyst studied XRP’s price pattern using Elliott Wave theory, which breaks market trends into waves of upticks and downticks. She concluded that XRP is still in a corrective phase which has yet to complete its journey.

Though XRP briefly jumped to $2.41 following the Mastercard announcement, the spike was short-lived.Brad Garlinghouse, CEO of Ripple, testifies during the Senate Banking Committee hearing titled "From Wall Street to Web3: Building Tomorrow's Digital Asset Markets," in Dirksen building on Wednesday, July 9, 2025.

The analyst predicted that XRP still needs to retest the $2.05 price level and once the cryptocurrency hits that level, it will spike toward the $2.36 level.

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Most likely, $2.05 would be the final low of the upcoming correction and the relative strength index (RSI) seems to concur with this theory, the analyst underlined.

"We need further testing of $2.05 before the correction is fully complete!"

Notably, @CasiTrades isn't the only analyst to ring alarm bells around XRP's current price action. Recently, another popular crypto analyst who goes by the X handle @AltCryptoGems said that if XRP doesn't reclaim the $2.7 level, "we might be in real trouble."

However, XRP has gained nearly 6% in the last 24 hours as it trades at $2.34 at the time of writing.

This story was originally reported by TheStreet on Nov 8, 2025, where it first appeared in the Trading News & Analysis section. Add TheStreet as a Preferred Source by clicking here.

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