Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. XRPstands at a pivotal point as it approaches the $2.97–$3 resistance zone. Holding above this level could confirm bullish momentum and spark the next Wave 3 rally, but a rejection here risks triggering a deeper correction. Perfect Retest: $2.79 Support Holds Strong
CasiTrades, a crypto analyst, recently sharedan update on XRP’s ongoing market structure, pointing out that the backtest of the $2.79 support level was flawless. According to CasiTrades, this was precisely where momentum was expected to re-enter the market, and buyers have indeed shown strength at this zone. She emphasized that the macro 0.5 Fibonacci level is continuing to act as a major support, anchoring XRP during the broader correction phase. Related Reading XRP Needs To Defend $2.98 Support To Avoid Deeper Correction – Details 4 days ago
Despite this positive reaction, the analyst cautioned that the market is not entirely clear just yet. While the bounce from support shows encouraging signs, XRP still has work to do to confirm a fully bullishreversal. XRP perfect retest of $2.79 | Source: Chart from CasiTrades on X
CasiTrades explained that for XRP to invalidate the risk of a deeper correction, the price must break and sustain above the $2.97 level. This mark, representing the 0.854 retracement and the bottom of Wave 1, is a crucial barrier that could alter the trajectory of XRP if successfully reclaimed.
The analystadded that the full confirmation of support would only come if XRP manages to flip the $3.00 level, which aligns with the macro 0.382 Fibonacci retracement range, into a reliable support zone. Strength Or Collapse: XRP Market’s Defining Moment
CasiTrades laid out the two potential paths for XRP based on its reaction to the key resistance levels. If the asset successfully breaks above the previously mentioned resistance points, namely $2.97 and $3.00, it would signal a major strength and confirm a new trend for what she refers to as Wave 3up. This outcome would likely validate the recent rally and suggest that the correction is over. Related Reading XRP Price Recovery Stalls – Traders Watching If Bulls Can Overcome Resistance 20 hours ago
Conversely, she warns of a potential downside if those resistance levels are not broken. In this scenario, the market could retest the $2.79 support level once again. A more bearishoutcome would see the price dip even lower, toward the $2.58 level, which corresponds to the .618 Fibonacci retracement level.
Thus, the crypto analyst concludes by emphasizing the importance of closely monitoring these levels on the RSI (Relative Strength Index) for any signs of exhaustion. The RSI is a momentum oscillator, and watching it in conjunction with the price actioncould provide early warnings of a potential reversal, helping to confirm whether the trend is strong or if a pullback is imminent. XRP trading at $2.84 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from iStock, chart from Tradingview.com