XRP has recently experienced price volatility after an unfavorable decision by US District Judge Analisa TorresAs many interpreted as a setback for Ripple. However, despite the legal rejection, a crypto analyst claims that the wider Bullish Structure for XRP remains intact. She urges investors not to panic and expresses strong confidence in Altcoin’s ability to keep the decisive $ 2 level and continue its upward track.
Xrp bull structure intact despite the court
Following Torre’s rejection of the joint movement of Ripple and US Sec for an indicative decisive, XRP faces Short -term price fluctuations. Despite the obvious legal setback, X (former Twitter) remains crypto analyst casitrades unpleasant, insistence that there is no need for investors to lose confidence.
The analyst confirms that XRP’s price action remains structurally intact and is moves within a predictable corrective pattern. Recent decline from the legal battle is interpreted by the analyst as part of a classic ABC CorrectionWith the market now likely in the last leg – Wave C.
Casitrades diagram shows that XRP has reached a critical support zone around $ 2.07- $ 2.10, in line with 0.618 and 0.5 Fibonacci levels respectively. So far, XRP has adhered to this zone, with the $ 2.10 support level successfully defending through the Daily Close.
Momentum indicators at the bottom of the diagram also support this view. XRP’s relative strength index (RSI) In lower time, frames have entered everywhere territory close to 20 and begins to form a Hausse– A signal of weakening of sales printing. Fibonacci levels on the chart also provide additional technical confluence, with the immediate resistance marked at $ 2.13 (0.236 FIB) and $ 2,145 (0.382 FIB). A stronger resistance barrier is also formed around 0.5 Fibonacci extension level at $ 2.16.
According to Casitrades, if XRP can recover and close over these resistance levels, especially $ 2,145, it can confirm the end of the ABC correction. Cryptocurrency is also expected to resume its previously haus -like trend, with the potential of one Fresh rally toward new heights.
XRP prepares for lifting against $ 2.69
In a follow -up chart analysis, casitrades reveal That XRP is now approaching the critical support zone to $ 2.07 as it is aimed at new heights of about $ 2.69. Following a recent rejection of the resistance level of $ 2.145 – which coincided with 0.382 Fibonacci retracing and served as the ideal Wave 4 goal – the analyst notes that the analyst notes that the analyst notes The final phase of wave c Now is developing.
$ 2.07 is full of technical significance, in line with 0.618 Fibonacci retracing of a complete promotion, 1: 1 extension of wave C and 0.618 underwave projection. Based on the analysis, these overlapping Fibonacci levels mark a probable reversal zone.
With price measures that float around $ 2.08 in the analysis, it predicts that as long as XRP holds over $ 2.07 support, a Hausse Could follow, potentially drive it against $ 2.25 and even up to $ 2.69 if speed continues.
Image from Unsplash, charts from TradingView
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