XRP News Today: XRP Pulls Back 20% After Reaching Fibonacci Levels, Analysts Eye $2.30 Support

XRP, the cryptocurrency, has recently experienced a significant pullback after reaching higher Fibonacci levels, with analysts suggesting that this correction may end near the $2.30 support zone. According to Crypto V, a prominent analyst, this pullback is part of a broader plan and that XRP could rise again after forming support. The chart analysis indicates that the bottom range for XRP is between $2.15 and $2.40, with the next breakout level aiming toward $8.

Crypto V's detailed chart analysis highlights the importance of Fibonacci retracement levels, particularly the 0.702, 0.786, and 0.618 levels. The analyst suggests that XRP could revisit levels between $2.15 and $2.40, particularly around the 0.702 retracement at $2.29. Further retracement could occur depending on market momentum, although the move may be "slightly deeper or shallower." The chart includes downward and upward trendlines forming a wedge-like breakout structure, with the breakout above this consolidation area aligning with historical technical setups that preceded XRP’s previous rallies. The yellow price path projects a sharp increase post-breakout, peaking near $13 before stabilizing around $5 to $6.

This corrective wave appears to coincide with previous Fibonacci-based support zones, suggesting measured pullbacks rather than a bearish reversal. The 1.618 extension also marks a lower boundary near $1.41, giving traders a reference point for risk management. Overall, the use of Fibonacci tools adds structure to the analyst’s projection, grounding the forecast in historical price behavior.

Crypto V maintained that the market is following a structured path based on retracement cues. “The pullback has already started on queue,” the analyst wrote, noting that “patience is all that is required” moving forward. He previously tweeted on July 10 that followers should not be shaken out by the next pullback, signaling an $8 breakout inbound. His statement aligns with crowd sentiment expecting XRP to repeat past breakout cycles, particularly under similar technical conditions. However, XRP’s path remains sensitive to broader market liquidity and external macroeconomic developments. Still, the analysis presents a precise roadmap: retrace, consolidate, and then launch toward $8.

A user asked if XRP could drop to around $2.30. Crypto V responded, “It could pull down to 2.15-2.40ish,” backing the estimate with retracement levels. This conversation further validates the chart’s short-term downside targets, but the long-term trajectory remains bullish. Analyst engagement and the technical accuracy of past predictions have increased attention on XRP’s current pattern. The post reached over 12,900 views, showing strong interest in XRP’s technical path and the projected move above $8.