XRP is down 27.39% since January 1, making 2026 its most bearish calendar year since 2022. The token, which peaked at $3.65 in July 2025, now trades near $1.31. That is not just a number. It is the sixth straight month of losses for XRP, a streak that has never been recorded since the asset began trading.

A seventh consecutive monthly close in the red would make history again. April 2026 is currently showing a 0.27% decline, according to on-chain data tracked by The Crypto Basic. No one has seen XRP lose seven months in a row before.

Wave 2 Was Mapped Out in 2024

The slide did not catch everyone off guard. According to thecryptobasic on X, chart analyst CG had already identified this correction pattern back in 2024.

“Current $XRP Correction Part of Wave 2 Pattern Identified in 2024, with Wave 3 Eyeing $24, CG Highlights.”

CG’s read is that the downtrend, which started July 2025, fits cleanly inside a Wave 2 structure following a completed five-wave intermediate move. The correction, in that framework, is normal. Not ideal, but normal.

The first support floor sits at $1.21, which aligns with the Fibonacci 0.5 level. XRP already tested that zone during the February 2026 crash. It held then. Whether it holds again is the question now hanging over holders still in the trade.

If $1.21 breaks, CG points to a deeper zone running from $0.92 down to $0.86. He calls that the golden pocket. The 0.618 to 0.65 Fibonacci range sits right there, and CG said he would consider buying in that range personally. Below that, there is a possible extreme at $0.62.

The $24 Target and What It Requires

Wave 3 projections are where things get interesting. CG sees a minimum target of $7.58 if XRP turns upward from current levels without visiting the golden pocket first. That figure climbs to $9 if the price dips into the $0.92 to $0.86 range before recovering.

On the higher end, CG projects $24.75 as a maximum Wave 3 target if the rebound starts from current prices. Should XRP first sweep the golden pocket and then recover, the target extends further to $37.

None of that moves until Wave 2 ends. That is the catch. The range of possible bottoms, somewhere between $1.21 and $0.62, means the entry point itself shifts the outcome significantly.

Seven Months of Red

The broader chart picture makes this correction harder to dismiss as noise. Since July 2025, XRP has recorded six consecutive monthly losses. Before 2026, the previous worst streak stood at six months, back in 2014.

The downtrend that began after the $3.65 all-time high has now erased more than 60% of Wave 1’s gains. Wave 1 itself was a 814% rally from $0.39 to $3.66, running between July 2024 and July 2025.

That context matters for anyone reading the chart. A 60% retracement from a wave of that size still falls within what Elliott Wave rules consider a valid correction range, which typically runs 50% to 61.8%. XRP is sitting right at the edge of that zone.

CG’s view, as relayed through The Crypto Basic on X, is that the overall structure has not broken. What looks like sustained weakness is still, by his reading, part of the expected post-rally correction. Wave 3, when it arrives, historically tends to be the strongest phase of an Elliott sequence.

Whether $7.58 or $24.75 materializes will depend on where exactly this correction ends. That floor, still being tested, is what everyone holding XRP right now is waiting to see.