XRP Poised For Final Flush Before Breakout, Predicts Crypto Analyst
XRP opened the new month perched against a chart inflection that popular trader CasiTrades (@CasiTrades) describes as “one of the most important structural levels” for the token this cycle. In a post on X dated May 1, th...
XRP opened the new month perched against a chart inflection that popular trader CasiTrades (@CasiTrades) describes as “one of the most important structural levels” for the token this cycle. In a post on X dated May 1, the analyst argued that the $2.25 zone—a former breakout pivot—has turned into the battleground on which the next decisive move will be forged.
XRP Price Faces Crucial Back-Test“May begins with a critical back-test — XRP’s next move could [come] sooner than many realize!” CasiTrades wrote, framing the current pullback as a textbook retest of broken support turned resistance. According to the technician, failure to sustain bids above $2.25 last week triggered the formation of a three-wave corrective sequence. Sub-wave B appears to have ended with Wednesday’s brief return to $2.25, leaving what CasiTrades calls “a likely C-wave move toward $2.00” as the scenario to monitor.
The analyst allows for a deeper intraday liquidity sweep, noting that “if that final leg plays out with momentum, there’s a strong chance we wick down to $1.90,” a price level that has not been visited since XRP’s breakout earlier this quarter. The $1.90 area coincides with both the 0.50 Fibonacci retracement of the entire advance off the correction lows and the 0.618 retracement of the most recent leg—two retracement depths that many technicians treat as high-probability reaction zones.
Short-term momentum gauges are hinting that the corrective phase may be running out of steam. “On the lower time-frames, RSI is flashing exhaustion, which suggests this dip may be short-lived,” the post continues. CasiTrades therefore views the prospective flush as “the final touch of support before XRP flips $2.25 and it’s off to the races,” reiterating upside targets at $2.68, $3.00 and “beyond once we break out cleanly.”
For now the bigger picture “remains unchanged,” the analyst concludes. “All signs point to one final flush before structure is ready to launch higher… Excited to see how May begins! Watching closely — not with hype, but pure technicals!”
Market participants will be watching the $2.00–$1.90 belt for evidence that buyers are indeed defending the midpoint of the recent rally. A convincing reclaim of $2.25, on the other hand, would validate CasiTrades’ thesis that only a “critical back-test” stood between XRP and the next leg toward multi-year highs.
At press time, XRP traded at $2.21 and XRP is slowly grinding upwards from the crucial $2.00 support zone (red).
Original source
Read on NewsBTCRelated market context
Elon Musk SpaceX AI Predicts Incredible Bitcoin Price For Next 30 Days
Here is the thing about capitulation calls. They only sound smart in hindsight. Right now, with Bitcoin price scraping along the l...
Bitcoin price faces new risk as big buyers lose conviction
Bitcoin’s largest buyers are no longer behaving like a reliable backstop for the largest cryptocurrency. The exchange-traded funds...
Kraken Adds USDCx Support On Canton As Institutional Stablecoin Rails Expand
TL;DR Kraken says it now supports USDCx deposits and withdrawals on the Canton Network. USDCx is described as a Canton-native stab...
Bloomberg Analyst: Most Bitcoin ETF Investors Have Stayed Put Despite Outflows
Bitcoin ETF investors have pulled billions this year, but the broader crypto ETF market remains more resilient than recent headlin...
XRP Price Prediction: Japan XRP ETF Listing is Getting Closer
Japan just handed XRP bulls a major regulatory tailwind. XRP price is retesting a congestion zone, and the prediction could turn b...
Bitcoin Mining Cost Model Points To $47,000 Floor, But Analysts Urge Caution
TL;DR Crypto Rover says Bitcoin has never bottomed below electrical production cost, currently estimated at $47,000. Mining-cost m...