XRP News Today: XRP Eyes 20% Gain as Key Support Level Looms

XRP’s technical landscape is heating up, with analysts pointing to a key support level that could serve as the launchpad for the next major rally. At the forefront of this analysis is Casitrades, a prominent market strategist, who identifies $2.235 as the crucial level to watch. According to him, this price zone could mark the conclusion of the current pullback and ignite a powerful upward move targeting $2.69.

XRP’s recent price momentum isn’t happening in isolation. A major catalyst came in the form of Ripple’s U.S. bank charter application, a strategic move that signals the company’s intent to fully integrate into the traditional financial system. The news boosted market sentiment and provided a timely jolt to XRP’s price, pushing it decisively above the $2.25 resistance level for a second time in just weeks.

This breakout from consolidation suggested renewed strength in XRP’s market structure. However, as prices approached $2.268, the rally stalled. That level, as Casitrades notes, represents the 0.382 Fibonacci retracement of the current local wave, a common barrier in technical patterns, often signaling the need for a final corrective dip before continuation.

Casitrades’ analysis zeroes in on $2.235 as the next strategic entry point. This price aligns with the 0.236 Fibonacci retracement level and, more importantly, is the convergence point of multiple internal subwave targets. In technical terms, this level represents a zone of high confluence, where different metrics and wave structures all agree.

He anticipates that a brief move lower to $2.235 will complete the current corrective structure. Traders are now closely watching this zone for signs of bullish divergence or a strong reaction, two classic signals of a reversal. If support holds and a bounce follows, it would confirm the start of the next bullish leg.

Once XRP finds support at $2.235, Casitrades projects a swift continuation toward $2.69. This target is backed by wave theory projections and falls in line with historical resistance levels. The broader pattern shows XRP moving in measured waves, each upward move followed by brief consolidations before a renewed push higher.

This setup mirrors previous XRP cycles, where consolidation phases laid the groundwork for aggressive rallies. With the structure largely intact and bullish catalysts in play, Casitrades’ $2.69 projection is gaining traction among traders.

XRP continues to attract attention for both its fundamentals and its chart structure. Ripple’s bank charter bid adds credibility to its long-term vision, while technical analysts like Casitrades provide traders with well-defined short-term roadmaps.

As the market eyes $2.235, this level now stands as the critical threshold between consolidation and breakout. Should it hold, XRP may soon enter a powerful new phase of its current rally, one that could see the price climbing swiftly toward the $2.69 mark and beyond.