Summary
- CasiTrades analyzed that XRP could plummet to as low as $1.55 if it falls below the $2.25 support level.
- CasiTrades stated that if the $2.25 support level collapses, all gains from the bull market could be erased.
- If the $2.25 support level is maintained, XRP could rise above $2.70, with the possibility of reaching the previous high of $3.84.
An analysis has emerged suggesting that XRP could plummet to as low as $1.55 if it falls below $2.25.
On the 23rd (local time), CasiTrades, a cryptocurrency analyst, stated on X (formerly Twitter), "Last week, XRP surged alongside Bitcoin (BTC) reaching an all-time high, but it has since declined sharply due to macroeconomic influences," adding, "XRP could retest the $2.25-$2.26 support level."
Furthermore, they noted, "This range is an important point that coincides with the Fibonacci retracement level of 0.382," and added, "If this support level collapses, XRP could fall to $1.55-$1.90, erasing all gains from the bull market."
Conversely, if the support holds, it could find an upward trend again. CasiTrades mentioned, "If the $2.25 support level is maintained, the price could rise above $2.70," adding, "In this case, reaching the previous high of $3.84 is also possible."
As of 9:46 PM, XRP is trading at $2.3018 on the Binance USDT market, down 2.01% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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