XRP recently experienced price volatility following an unfavorable ruling by US District Judge Analisa Torres, which many interpreted as a setback for Ripple. However, despite the legal rejection, a crypto analyst maintains that the broader bullish structure for XRP remains intact. Urging investors not to panic, she expresses strong confidence in the altcoin’s ability to hold the crucial $2 level and continue its upward trajectory.
XRP Bull Structure Intact Despite Court Blow
Following Torres’ rejection of the joint motion by Ripple and the US SEC for an indicative ruling, XRP faced short-term price fluctuations. Despite the obvious legal setback, X (formerly Twitter) crypto analyst CasiTrades remains unfazed, insisting that there is no need for investors to lose confidence.
The analyst affirms that XRP’s price action remains structurally intact and is moving within a predictable corrective pattern. The recent decline from the legal blow is being interpreted by the analyst as part of a classic ABC correction, with the market now likely in the final leg—Wave C.
CasiTrade’s chart shows that XRP has reached a critical support zone around $2.07-$2.10, aligning with the 0.618 and 0.5 Fibonacci levels, respectively. So far, XRP has held on firmly to this zone, with the $2.10 support level successfully defending through the daily close.
Momentum indicators at the bottom of the chart also support this view. XRP’s Relative Strength Index (RSI) on the lower time frames has entered oversold territory near 20 and is beginning to form a Bullish Divergence—a signal of weakening selling pressure. Fibonacci levels on the chart also provide further technical confluence, with the immediate resistance marked at $2.13 (0.236 Fib) and $2.145 (0.382 Fib). A stronger resistance barrier is also forming around the 0.5 Fibonacci Extension level at $2.16.
According to CasiTrades, if XRP can reclaim and close above these resistance levels, particularly $2.145, it could confirm the end of the ABC correction. The cryptocurrency is also expected to resume its prior bullish trend, with the potential for a fresh rally toward new highs.
XRP Prepares For Lift-Off Toward $2.69
In a follow-up chart analysis, CasiTrades reveals that XRP is now approaching the critical support zone at $2.07 as it aims for new highs around $2.69. After a recent rejection at the $2.145 resistance level—which coincided with the 0.382 Fibonacci Retracement and served as the ideal Wave 4 target—the analyst notes that the final phase of Wave C is now unfolding.
The $2.07 is packed with technical significance, aligning with the 0.618 Fibonacci Retracement of a full move up, the 1:1 extension of Wave C, and the 0.618 sub-wave projection. Based on the analysis, these overlapping Fibonacci levels mark a likely reversal zone.
With price action hovering around $2.08 at the time of the analysis, CasiTrades predicts that as long as XRP holds above the $2.07 support, a bullish breakout could follow, potentially driving it toward $2.25 and even up to $2.69 if momentum continues.
Featured image from Unsplash, chart from TradingView
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
