XRP recently had a price volatility after an unfavorable decision of US district judge Analisa TorresWhat many interpreted as a setback for Ripple. Despite the legal rejection, a crypto analyst claims that the wider The bullish structure for XRP remains intact. It asks investors not to panic and express a strong trust in the ability of the old coin to keep the decisive 2 -dollar level and continue its upward way.
XRP bull structure intact despite judicial blow
Follow Torres’ rejection the common movement by Ripple and the US SEC for an indicative judgment, XRP faced short -term price fluctuations. Despite the obvious legal setback, X (formerly Twitter) Krypto -Analyst Casitades remains unimpressed. insist That investors don’t have to lose trust.
The analyst confirms that the price campaign of XRP remains structurally intact Move in a predictable correction pattern. The latest decline in the legal blow is interpreted by the analyst as part of a classic ABC correctionWith the market now probably in the last leg – Wave C.
The CASITRADE table shows that XRP has reached a critical support zone of $ 2.07 to $ 2.10 and has aligned itself with the level of 0.618 or 0.5 Fibonacci. So far, XRP has stuck firmly in this zone, whereby the support level of $ 2.10 successfully defends the daily conclusion.
Momentum indicators at the end of the diagram also support this view. Relative strength index of the XRP (RSI) In the lower time, the frames came into an oversized area near 20 and begins to form a Bullish divergence– A signal of the weakening of sales pressure. The Fibonacci values in the table also offer other technical confluence, whereby the immediate resistance is marked at $ 2.13 (0.236 fib) and USD 2.145 (0.382 fib). A stronger resistance barrier is also about the extension level of 0.5 fibonacci at $ 2.16.
According to Casitades, it can confirm the end of the ABC correction if XRP can recover and close these levels of resistance, in particular $ 2.145. It is also expected Fresh rally towards new heights.
XRP is preparing for $ 2.69
In a follow-up diagram analysis of Casitades unveiled This XRP is now approaching the critical support zone at $ 2.07, since it is striving for new heights of around 2.69 US dollars. After a recent rejection of $ 2.145 resistance level, which coincides with the 0.382 Fibonacci withdrawal and served as an ideal Wave 4 goal -the analyst notes that the Last phase of the wave C now unfolds.
The $ 2.07 is packed with technical significance and is the 0.618 fibonacci withdrawal of a complete movement, the 1: 1 expansion of the wave C and the 0.618 sub-shaft projection. Based on the analysis, these overlapping Fibonacci values are a probable reverse zone.
With a price campaign that is around 2.08 US dollars at the time of the analysis Bullish Breakout Could follow and possibly drive to 2.25 US dollars and even up to 2.69 US dollars if the momentum continues.
Selected picture of Unsplash, Diagram from Tradingview
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