XRP’s price is closely tied to Bitcoin’s, and both are at crucial points, according to crypto analyst CasiTrades. Let’s break down what’s happening.
XRP’s $2.24 Hurdle
CasiTrades points out that XRP recently broke through the $2.24 mark – a significant resistance level. This breakout, aligning with a key technical indicator (the 0.382 macro retracement), signals a potential shift in the market. While there’s been a slight pullback since then, she cautions against seeing this as weakness. Instead, she suggests it’s a minor correction before a potential new high.
Key levels to watch, according to CasiTrades, are $2.24 and $1.90, with $1.55 now less likely. She emphasizes that even small retracements could trigger a major upward move. The overall picture, she believes, is bullish for XRP.
Bitcoin’s Influence
CasiTrades also analyzed Bitcoin’s price action. Bitcoin’s recent push towards $95,000 (a significant retracement level) resulted in a temporary top, followed by a correction to around $92,000.
A further correction down to $60,000 is possible, she says, but a break above $95,000 could send Bitcoin soaring to $126,000. This would likely boost XRP as well, since altcoins often follow Bitcoin’s upward trends.
The Bottom Line
Even with XRP’s current price around $2.16 (a slight dip), CasiTrades remains optimistic. Whether XRP holds above $2.24 or dips to $1.90, the overall market structure suggests a strong upward movement is still possible.
