XRP has entered a significant technical zone as cryptocurrency analyst CasiTrades indicated the token remained in line with the wave patterns identified in her recent analysis. Following a decline, XRP tested a crucial support level before shifting focus to the next resistance area.
Precise support retest and technical structure
According to CasiTrades, XRP declined within a descending channel across three different charts, eventually reaching a green demand zone near $1.08. After touching this area, XRP stabilized, mirroring the path predicted by her Elliott Wave model. The analyst described this move as a “perfect touch,” highlighting XRP’s precise interaction with the previously defined support level in her charts.
Her technical breakdown also noted that XRP tested the blue horizontal level close to the 1.618 Fibonacci extension at $1.1008 before moving further downward and settling at support. This sequence appears to confirm the wave structure CasiTrades previously outlined for the token.
The market respected a key support near $1.08 and continued to follow the wave sequences marked on the charts, aligning with the analyst’s technical projections.
CasiTrades is an independent cryptocurrency analyst recognized for her application of Elliott Wave Theory to digital assets, frequently sharing chart-based forecasts with the crypto trading community.
Mini dictionary: Elliott Wave Theory is a technical analysis approach that seeks to forecast market trends by identifying recurring wave patterns, often used to predict price movements based on investor psychology.
Momentum indicators and insider strategies
The Relative Strength Index (RSI), a widely followed momentum indicator, signaled support for the technical setup. As XRP moved into the green support area, RSI dropped toward oversold territory, indicating that selling momentum was weakening as the token reached its projected level.
CasiTrades maintained her primary Elliott Wave count in her latest update, refining only the short-term pattern. Price action traced the light purple path shown in her charts, with the next key area of interest found at resistance near $1.12.
| Support Level | Current Price Target | Main Resistance |
|---|---|---|
| $1.08 (Green Zone) | $1.12 (Wave 4) | $1.1242–$1.1640 (Fibonacci Levels) |
Despite forecasting a rebound, the analyst disclosed she left her buy orders at $0.93, expressing caution that XRP may still require one last decline before a full breakout. She commented that more price development and confirmation were needed to validate her subwave scenario, adding that further clarity would likely come with the next trading sessions.
Charts continue to suggest a recovery to the $1.12 resistance area, but the possibility of one additional downward move remains if the subwaves continue to play out.
Outlook: Recovery targets set for XRP
As XRP rebounds after testing support, CasiTrades signaled her expectation of a move toward the $1.12 resistance. Her projection maps out an advance along the designated wave path, suggesting that this move forms part of a larger corrective sequence not yet completed.
Technical analysis placed further resistance at the 0.382 Fibonacci retracement level of $1.1242, with additional barriers observed at $1.1341 and $1.1640. For the short term, the analyst’s attention remains focused on the pivot near $1.12, awaiting confirmation from market dynamics and subwave formations before adjusting her strategy.
