XRP's decline below the 0.5 Fibonacci retracement near $1.34 has invalidated the bullish wave structure that CasiTrades had linked to a potential move toward $1.78. The token was trading around $1.26 on the 1-hour chart when her latest analysis was published, down roughly 8% for the day. Attention has shifted to support between $1.08 and $1.14, centered on the macro 0.786 Fibonacci retracement at $1.10. A decisive break there would put the macro 0.854 level near $0.87 in focus, representing roughly a 31% decline from $1.26. XRP would need to recover $1.34, $1.43 and the $1.53-to-$1.64 resistance zone before reclaiming the macro 0.618 level around $1.65 and restoring the bullish scenario. The move comes amid a broader crypto selloff after the U.S. Senate failed to advance the CLARITY Act in a 50-49 vote, short of the 60 votes required. Markets are also pricing in more than a 90% probability of a 25-basis-point Federal Reserve rate hike at the September 16 decision, adding pressure to risk assets. CasiTrades' Elliott Wave projection allows for a decline to $1.10 before a possible recovery, but she cautions that the count is interpretive and the rebound is not guaranteed.