XRP Eyes Crucial $1.10 Support Amid Shift in Short-Term Outlook
Crypto analyst CasiTrades is now eyeing the $1.10 level as a crucial support for XRP, following its prolonged consolidation below the 0.618 Fibonacci resistance level at $1.6432.
The recent break below the 0.5 retracement at $1.3429 has shifted the short-term outlook and made a move down to the subwave 2 area around $1.10 more probable, according to CasiTrades.
This zone aligns with the macro 0.786 Fibonacci retracement, and several Fibonacci levels sit between the current price and $1.10, including the 0.618 at $1.2589 and the 0.65 at $1.2361, acting as interim support on the way down.
A test of this level could tell us a lot about the future direction of XRP, with holding it signaling buyers defending support and potentially reopening the possibility of a macro trend shift.