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XRP remains in a maintenance model, according to the latest analysis of the graphics shared by the Crypto @casitrades analyst. Despite a relatively moderate weekend, XRP continues to negotiate above the levels of critical support, which indicates that the current bullish structure has not been invalidated.
The XRP price remains optimistic
A more in -depth examination of the XRP / USD graph of 4 hours by @casitrades shows Two convergent trend lines which formed a symmetrical triangle extending from mid-January in mid-March. The action of XRP prices respected both the upper and lower limits of this training until the beginning of March.
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At the time, the XRP price initially staged an escape attempt, but it turned out to be a false and quickly failed. However, the second escape now seems more promising. After moving over the trend line, XRP is currently undergoing a retest hulsing and has managed to bounce back on the Rupture level. If this retest is held in the coming days, this could point out that the Bulls take control and have won this critical battle for the momentum.
Fibonacci trace levels are distinguished as key guides for potential prosecution or inversion. The retrace of 0.382 almost $ 2.26 clearly acted as a critical support, while the level of 0.236 nearly $ 2.70 aligns with a horizontal area which worked as previous support in early February before heading for short -term resistance.
“XRP is hard, but still in waiting mode!” CASI notes.
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A step higher on the graph is the retrace of 0.118 almost $ 3.05, which is a little under a horizontal strip which previously capped the price action at the end of January. These thresholds combine to create a regional resistance in layers between $ 2.70 and $ 3.05, an XRP zone should overcome for a credible change in the feeling of the market.
The signs of strength would become more conclusive if XRP could exceed $ 3.40, a threshold that @Casitrades emphasizes if necessary to confirm a broader change in trend. The analyst highlights $ 3.40 as a decisive technical barrier which must be erased before the traders can speak of a “new trend», Perhaps corresponding to wave 3 of a larger market cycle.
Lowering, the graph indicates that if the 0.382 FIBONACCI at around $ 2,26 was to fail, the support at $ 1.90 (the retrace of 0.5) would be the next logical safety net for buyers. Even lower levels almost $ 1.54 represent the origin of the latest swing upwards and could attract significant demand if the market was to undergo an extended sale. RSI readings on the 4 -hour calendar fly over in the middle of the age of 50, pointing to a market that is neither onbouillé nor occurring. This neutral momentum also underlines the “waiting method” described by @casitrades, in which the participants seem prudent to place aggressive bets before a Decisive escape or breakdown.
In the comments shared via X, the analyst concludes: “XRP must exceed $ 3.40 to confirm our new trend, but so far, we are expecting signs of confirmation, which may not be obvious to wave 3 in the market cycle.
At the time of the press, XRP exchanged $ 2.29.
Star image created with dall.e, tradingView.com graphic
