XRP Price Predictions: Analyst Shares Insights on Future Movements

Recent developments in the XRP market indicate a strong recovery, with prices rebounding above $2. According to crypto analyst CasiTrades, this bounce follows an anticipated technical trajectory. As XRP approaches $2.2, traders are eager to learn what may come next.

Key Takeaways

XRP's price recently rebounded above $2 after experiencing a drop in early December.
Analyst CasiTrades indicated that this movement aligns with a predicted technical pattern.
The short-term price targets remain critical, with resistance around $2.04.
Two potential scenarios could unfold: a double bottom pattern or a deeper pullback to $1.64.

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XRP's Recovery and Market Dynamics

The recent surge in XRP's price can be attributed to a significant rebound, moving away from early December's downward trend. The price has now climbed back above $2, driven by insights shared by analyst CasiTrades on the platform X. In her comprehensive technical analysis, she highlighted the initial drop as well as the anticipated recovery, positioning XRP toward $2.2.

Understanding the Subwave Structure

CasiTrades elaborated on how the price drop in early December represented a part of a subwave 2 formation she discussed in her prior livestream. When XRP hit $2.03, it confirmed a transition into a subwave 3 extension. The initial target price was projected to be around $1.90, a significant level correlated with Bitcoin’s macro 0.382 level near $79,000.

The accompanying chart visually demonstrates this analysis, with a series of wave structures indicating $1.90 as a key support level. Additionally, a green accumulation block between $1.80 and $1.64 serves as a more profound support area that may come into play.

XRP Price

Source: @CasiTrades On X

During her analysis, selling pressure began to ease, and momentum indicators such as the RSI showed signs of bullish divergence. XRP's price has since turned bullish, confirming expectations of a reaction at the $1.90 zone.

CasiTrades projected that once XRP reached this point, a bounce back toward $2.04 would occur as it retests resistance for a new Wave 4 formation. The recent price activity reflects this prediction, with XRP gaining momentum and attracting buyers.

Potential Scenarios Ahead for XRP

According to CasiTrades, there are two scenarios to consider as XRP retests the $2.04 level. The first scenario suggests that a double bottom may form between the $1.80 to $1.88 range, varying by exchange. She illustrated this with a support box indicating where prices might decline before establishing a more substantial upward breakout.

The second scenario proposes a pullback to $1.64, backed by the macro 0.618 support. This area serves as the lower boundary of the green accumulation block on her chart, representing a possible completion of Wave 2 or Wave C before XRP makes a more significant impulsive move.

XRP price chart from Tradingview.com
Price holds support above $2 | Source: XRPUSDT on Tradingview.com