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According to a one-hour chart shared by independent analyst Casitrades on X, XRP is applying a confluence of Fibonacci support that can decide whether to expand or snapshot. When the snapshot was published, the token last changed hands at $2.0995, down 0.16% at the conference, but hovered at the late-to-April Rally 38.2% recovery rate.
XRP is building power
Casitrades explains the importance of the current pullback, “momentum is starting to pick up, and XRP falls to one of the most critical support tests we’ve seen in a few weeks.” The chart fixed on the Fibonacci grid at the April 28th 2.3622 Swing High setting and 1.6169 $1.6169 April; 7 from that range, 38.2% traced back to $2.0775, 50% cut to $1.9896, while Golden-Ratio’s 61.8% level was $1.9016.
Casitrades highlights 38.2–50% of corridors ranging from $2.078 to $2.00, such as “key support areas,” adding: “This area has been the pivot point of the past, and we can see that the market can start turning the market when strength returns.”
Related Readings
Price action due to the height of $2.36 is mapped to textbook ABC correction mode. Wave (a) carries 23.6% recycled XRP for $2.1863; Wave (B) attempts to retest the overhead supply, but only lags behind the peaks; Active wave (C) is outlined by magenta arrows pointing directly to the pockets of $2.00 to $1.90. “We may still see a flush or surprise drop for the main $1.90 targeting the main $1.90, noting that such moves tend to “moving quickly, and it’s clear that the opportunity may go away.” ”
Inside, momentum has already suggested exhaustion. The one-hour RSI carved a continuous higher low from the end of April to early May, even as spot prices lowered, creating a significant bullish difference, while the black trend line continued to grow. The oscillator drifts below 40 handles, indicating that the selling pressure is losing the power of price drilling. “On the lower schedule, RSI shows signs of sales exhaustion, and price action starts to compress, often indicating a bigger move is coming,” Casitrades observed.
Related Readings
Key resistance targets
Above the market, Fibonacci levels create an orderly resistance ladder from the wider swing. A crimson band close to $2.2559 marked a 38.2% backtrack of early macro impulses and was labeled “.382 main support” until it was retracted. Beyond that, the crossover price of 11.8% of the lines is $2.2743, and the top-notch peak is $2.36. Analysts told followers: “With these support, we are looking for XRP to reach more than $2.25, $2.68 and beyond, $2.25, $2.68 and beyond.
In the comment thread, traders debated whether Bitcoin and Wednesday’s Fed’s decision could lower the last lap. Casitrades replied: “I am too… the ideal support test has great power and impressive recovery.” When asked about his launch for a long time, he advocated a ladder approach: “Ideally, you ladder, $2.08, $2.00 and $1.90, Sub-Waves pointing to $2.00, is the highest pivot support possible.”
At press time, XRP was trading at $2.14.
Featured Images created with dall.e, Charts for TradingView.com
