Analyst Predicts XRP Support Level to Trigger Next Big Rally
2025-07-05 12:33:21
Main Idea
An analyst identifies $2.235 as a critical support level for XRP, predicting it could trigger a rally to $2.69, with Ripple's U.S. bank charter application serving as a key catalyst for recent price momentum.
Key Points
1. XRP's technical analysis highlights $2.235 as a crucial support level, with a potential rally to $2.69 if this level holds.
2. Ripple's U.S. bank charter application has boosted market sentiment and contributed to XRP's recent price surge above $2.25.
3. The $2.235 level aligns with the 0.236 Fibonacci retracement and is a convergence point for multiple internal subwaves, suggesting a potential entry point.
4. A breakout from consolidation indicates renewed strength in XRP's market structure, though the rally stalled near $2.268.
5. The analyst's projection of a move to $2.69 is supported by wave analysis and mirrors previous XRP cycles where consolidation preceded aggressive rallies.
Description
XRP’s technical landscape is heating up, with analysts pointing to a key support level that could serve as the launchpad for the next major rally. At the forefront of this analysis is Casitrades, a prominent market strategist on X, who identifies $2.235 as the crucial level to watch. According to him, this price zone could mark the conclusion of the current pullback and ignite a powerful upward move targeting $2.69. Ripple’s Bank Charter Application Sparks Fresh Momentum XRP’s recent price momen...
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