XRP Approaches Critical $2.97-$3 Resistance, Potential Wave 3 Rally
XRP is at a critical juncture as it nears the $2.97–$3 resistance zone. Holding above this level could confirm bullish momentum and initiate the next Wave 3 rally, whereas rejection could lead to a deeper correction.
$2.79 Support Holds Strong
- CasiTrades, a crypto analyst, noted a successful backtest of the $2.79 support level, indicating strong buyer interest.
- The macro 0.5 Fibonacci level continues to act as significant support during the broader correction phase.
- For a confirmed bullish reversal, XRP must break and sustain above $2.97, which is crucial for altering its trajectory.
XRP Market's Defining Moment
- If XRP breaks above $2.97 and $3.00, it would signal major strength, confirming a new trend and possibly ending the recent correction.
- Failure to break these levels might lead to another test of the $2.79 support, with potential dips to $2.58 if bearish trends persist.
- Monitoring RSI in conjunction with price action could provide early warnings of potential reversals.
