Crypto
XRP Faces Crucial Test as Resistance Holds Above $1.20
XRP has reached a critical technical juncture after its recent rebound. Analyst CasiTrades sees this as a pivotal moment in determining the token's short-term direction.
CasiTrades identified XRP's current movement as a 'Wave 2 correction' within the Elliott Wave framework, noting that the retracement has now reached the 0.854 Fibonacci level, positioning the price precisely at $1.16.
The analyst emphasized that the outlook for a deeper decline would only change if XRP surpasses $1.20, which she regards as a definitive price ceiling for the ongoing bearish scenario.