The Next Wave for XRP: Price Direction and Conditions to Watch

XRP has hit a crucial price level that could indicate whether the cryptocurrency is on the path to recovery or facing another downturn. Recent trends show that an important support level has held firm, but the path to higher prices is conditional and will determine if the current bounce is sustainable or just a brief pause before further declines.

Key Takeaways

XRP has reached a significant support level at around $2.03.
The recent price bounce could bring XRP to the $2.24–$2.26 range.
A critical level to watch for a potential change in trend is $2.41.
Managing risk is important, with $2.03 identified as a key invalidation point for the bullish outlook.

XRP

XRP Price Bounce: A Positive Sign or a Test?

Prominent crypto analyst CasiTrades shared insights indicating that XRP's recent downturn halted precisely at a macro 0.5 retracement level of about $2.03. This level now serves as confirmed support, showing that there is active demand rather than just a random price bounce. Additionally, bullish indicators have emerged, suggesting decreasing downward pressure in the short term.

XRP Price

From a technical perspective, CasiTrades views this movement as the start of a subwave 2 bounce. The attached chart indicates the potential for XRP to rise toward the $2.24–$2.26 range, which coincides with key Fibonacci retracement levels and previous resistance points. While hitting this range would complete the anticipated corrective move, CasiTrades cautions that any rally would still be part of a larger pullback rather than a confirmation of a bullish trend.

This distinction is vital, as corrective rallies often appear promising before eventually failing. If XRP's upward movement remains overlapping and lacks strong momentum, this may support a rejection at resistance and lead to a continuation of the broader corrective phase.

The Crucial Levels: What Could Change the Trend

According to CasiTrades, the pivotal level to watch is $2.41. If XRP manages to break above this level decisively and then retests it as support, it would refute the negative scenario. This would indicate that the current price bounce is no longer corrective and signals a shift towards a stronger bullish phase.

Conversely, if XRP struggles at the $2.41 level and forms a potential double top, it would align with a wave-2 corrective structure. In such a case, XRP might enter a subwave 3 decline. Despite possible imperfections in smaller price movements, CasiTrades emphasizes that the major target remains consistent, with macro support expected around $1.65 as the main downside goal.

Risk management is essential in this context. CasiTrades recommends using $2.03 as the invalidation point for the bullish thesis, making it a logical area for protective stops. As long as this support level remains intact, market participants should stay vigilant and observant.

In conclusion, the next wave for XRP hints at where the price might be headed, provided traders adhere to the outlined conditions. As CasiTrades notes, the inner structure of this movement will determine if this is a temporary adjustment or the beginning of something considerably stronger.

XRP price chart from Tradingview.com
Price shows bearish pressure | Source: XRPUSDT on Tradingview.com