XRP Hits $2.24 Fibonacci Level; Analyst Sees Potential for $6.50+ Targets
XRP is currently at a critical point after touching the 0.382 Fibonacci retracement level around $2.24, as noted by analyst Casie (@CasiTrades). This price action has triggered bearish signals on the RSI, suggesting a possible short-term reversal and deeper correction.
Potential Support Levels
- $1.90: Identified as the 0.5 Fibonacci retracement and a critical backtest area.
- $1.55: Considered the golden .618 Fibonacci retracement and a likely Wave 2 corrective low according to Elliott Wave theory.
Casie asserts that these levels may prompt a pivot toward higher highs, maintaining an overarching bullish structure despite the current dip. She anticipates a breakout to new highs in April, with targets ranging from $6.50 to $26 based on Elliott Wave extensions.
For confirmation of a new trend, XRP needs to break above $3.40. Current RSI divergences suggest short-term bearishness, but medium- to long-term perspectives remain positive if support is confirmed.
XRP is trading at $2.16 as of the latest update. Traders are monitoring whether the asset finds support at either $1.90 or $1.55 for potential upward momentum.
