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A crypto analyst has re -confirmed Bullish Outlook for XRPWhat suggests that the price action of the cryptocurrency unfolds exactly as expected. The analyst points out that XRP is now approaching the critical level of support at $ 1.90, which can indicate to a Potential bullish reversal If the price above succeeds.
XRP -eyes $ 1.90 as a key reinforcing zone
CasiTrades from Cryptomarkt Expert believe that the XRP -Price behavior Moves exactly as predicted after the recent Price decrease under $ 2. According to the graph and analysis published on X (formerly Twitter), the Retracement from XRP to the $ 1.90 region is not a sign of weakness, but a text book setup for a potential reversal.
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The level of $ 1.90 represents a large Fibonacci retracement zone, in particular the 0.5 retracement of the macro correction, which the analyst has closely viewed to a possible price reaction. According to Casitrades, this zone is more than just a random level – it focuses on a pattern that the analyst described in previous updates.
In these earlier reports, CasiTrades pays out for different price movements during the decrease in XRP, including a strout of an important fibonacci level, a short-term suit up to catch late buyers and a final decrease in the support zone, where true Bullish divergence Can develop. This individual price pattern now seems to play exactly as expected on the XRP price diagram. If XRP holds above the level of $ 1.90 while you form a bullish divergence on the Relative strength -Index (RSI)It could confirm a soil setting of a textbook and possibly designate the start of a new impulsive rally.
XRP and Bitcoin -Display -Gesynchronized patterns
Casitrades price charts shows XRP forms a falling triangleWith the last movement that immerses just in a much -sought after zone, characterized by earlier price reactions. In line with the Elliott Wave theoryThis pattern suggests the upcoming completion of Golf 2 with a Solid outbreak in Golf 3 Potential shape if the support level of $ 1.90 applies. Additional support from important Fibonacci levels, such as the 0.618 and 2,136 extensions at $ 2.0 and $ 2.1 respectively, strengthens the strength in the XRP potential for a rebound.
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Interesting is that the analyst points to the Bitcoin -Price promotion Reflect this exact behavior – consecutively from just below his own 0.236 retracement near $ 97,000, and possibly supporting a final dip in support. This synchronized structure over both XRP and BTC adds heavy confluence.
Casitrades notes that this current decline is not a breakdown, but rather one End of calculated shakeout For a wider rally. If both Bitcoin and XRP reach themselves as expected while they are positioned at $ 0.19 and $ 97,000 respectively, the analyst believes that it could activate a new bullish leg in the crypto cycle.
Featured image of Getty Images, Chart van TradingView.com
Credit : www.newsbtc.com
