Analyst Shows XRP Is Approaching Price Discovery Moment. Here’s What It Means

Key Points

1. XRP has been testing the $3 resistance level, with bullish momentum indicated by its ability to stay above $2.90.

2. According to Elliott Wave Theory, the current phase is part of a powerful Wave 3 trend, suggesting significant upward potential.

3. The $3.04 level is critical as it aligns with the 0.118 Fibonacci retracement from XRP's all-time high and serves as the neckline for a cup-and-handle pattern.

4. A bearish divergence in the RSI is noted, but in Wave 3 environments, this may not immediately result in a pullback.

5. Breaking above $3.04 could lead to rapid price movement into uncharted territory, with CasiTrades predicting a swift surge.