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A crypto analyst has reaffirmed a bullish outlook for XRP, suggesting that the cryptocurrency’s price action is unfolding exactly as anticipated. The analyst points out that XRP is now approaching the critical support level at $1.90, which could signal a potential bullish reversalif the price manages to hold above it. XRP Eyes $1.90 As Key Reversal Zone
Crypto market expert CasiTrades believesthat the XRP price behavioris moving exactly as predicted following its recent price drop below $2. According to the chart and analysis published on X (formerly Twitter), XRP’s retracement toward the $1.90 region is not a sign of weakness but a textbook setup for a potential reversal. Related Reading Daily Timeframe Says XRP Price Is On The Verge Of Breakout 1 week ago
The $1.90 level represents a major Fibonacci Retracement zone, specifically the 0.5 retracement from the macro correction, which the analyst has been closely watching for a possible price reaction. According to CasiTrades, this zone is more than just a random support level—it aligns with a pattern that the analyst described in earlier updates. Source: CasiTrades on X
In these previous reports, CasiTrades was watching out for distinct price movements during XRP’s decline, including a bounce off a key Fibonacci level, a short-term fakeout upward to trap late buyers, and a final drop back into the support zone, where Bullish Divergencecan develop. This distinct price pattern now appears to be playing out exactly as expected on the XRP price chart. If XRP holds above the $1.90 level while forming a Bullish Divergence on the Relative Strength Index (RSI), it could confirm a textbook bottom setup and potentially signal the start of a new impulsive rally. XRP And Bitcoin Display Synchronized Patterns
CasiTrades’ price chart shows XRP forming a Descending Triangle, with its latest move dipping just into a high-demand zone marked by previous price reactions. In line with the Elliott Wave Theory, this pattern suggests the upcoming completion of Wave 2 with a massive breakout in Wave 3potentially taking shape if the $1.90 support level holds. Additional support from key Fibonacci levels, such as the 0.618 and 2.136 extensions at $2.0 and $2.1, respectively, reinforces strength in XRP’s potential for a rebound. Related Reading XRP Price Enters Perfect Setup After Buy Retest – Next Stop $3.7 1 week ago
Interestingly, the analyst points to the Bitcoin price actionmirroring this exact behavior—bouncing from just under its own 0.236 retracement near $97,000, and potentially setting up for a final dip into support. This synchronized structure across both XRP and BTC adds heavy confluence.
CasiTrades notes that this current downturn is not a breakdown, but rather a final calculated shakeoutbefore a broader rally. If both Bitcoin and XRP reach as expected while positioned at $0.19 and $97,000 respectively, the analyst believes it could trigger a new bullish leg in the crypto cycle. XRP trading at $2.18 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com