XRP Hits $2.24, Analysts Eye Potential Reversal at $1.90

XRP, the cryptocurrency associated with Ripple, has recently reached a key resistance level, prompting analysts to advise holders to prepare for potential market movements. CasiTrades, a well-known crypto analyst, confirmed that XRP has reached a key short-term high, labeling it as the conclusion of an ABC corrective wave. According to her latest chart, XRP tapped $2.24, aligning precisely with the 0.382 Fibonacci retracement level. This level was anticipated as a likely top in the current corrective structure, finalizing wave C of the corrective phase from the recent low of $1.72.

The posted chart highlights a well-formed ABC pattern, clearly labeling each wave. The RSI data at the bottom of the chart further supports a potential reversal, showing bearish divergence as the price reached the top of wave C. CasiTrades noted this was showing signs of reversal, consistent with weakening momentum across multiple timeframes.

With the corrective wave likely complete, attention has shifted to identifying where XRP may find support before initiating its next major leg higher. CasiTrades pointed to $1.90 as the first significant level. This corresponds with the 0.5 Fibonacci retracement and is described as a “critical backtest area” for a possible short-term bounce. The asset recently dipped below this level after Donald Trump’s tariffs caused a market-wide collapse. However, the digital asset quickly recovered when Trump announced a 90-day pause on his tariff plans. It is now trading at $2.14.

With the asset now trading above $2, CasiTrades presents two scenarios. The asset could either continue this rise and experience a massive breakout from the recent price decline or fall back and test lower levels before the price rally. The $1.55 area is considered crucial. This level, which aligns with the 0.618 retracement, is an Elliott Wave Theory Wave 2 target. The chart shows a green zone stretching from approximately $1.44 to $1.55, representing a key accumulation area if XRP dips to this level. Meanwhile, CasiTrades believes that either of these levels could be XRP’s next pivot.

The overall structure suggests that XRP may soon complete its corrective phase, setting a strong bullish impulse. She advised traders to monitor price action closely at $1.90 and $1.55, where the next directional pivot is expected to form. CasiTrades expects “massive new highs” from the digital asset’s next move, and many other experts share this bullish sentiment. The analyst's insights come at a time when XRP has experienced significant fluctuations, with some predicting ambitious price targets. According to the analyst, XRP could potentially dip to $1.40, but the analyst continues to hold their position, indicating confidence in the cryptocurrency's long-term prospects. This sentiment is echoed by other analysts who have made bold predictions about XRP's future price. For instance, crypto expert Dark Defender believes XRP could reach $77 in the current cycle, although this remains a speculative forecast.

The analyst's advice to XRP holders to prepare for what is coming underscores the volatile nature of the cryptocurrency market. While some analysts are optimistic about XRP's potential to reach new heights, others caution about the risks involved. The key support zones identified by CasiTrades are crucial for XRP holders to monitor, as they could provide insights into the cryptocurrency's next major price movement. The recent developments surrounding XRP highlight the importance of staying informed about market trends and analyst predictions. While the cryptocurrency has faced challenges, including regulatory scrutiny and market volatility, it continues to attract attention from investors and analysts alike. As XRP navigates through these challenges, holders are advised to remain vigilant and prepared for potential market movements.