The XRP price fell as low as $2.0238 on Monday, potentially forming a local bottom. Since then, the XRP price is up almost 6%, however, the possibility of a deeper retracement remains. Two prominent chartists\u2014CasiTrades (@CasiTrades) and Charting Guy (@ChartingGuy)\u2014have shared their perspectives on whether the token has found its local bottom or if further downside might still be on the table.<\/p>\n
According to CasiTrades\u2019 newly published<\/a> chart, XRP appears to have tested the 0.786 Fibonacci retracement at $2.05 and is now showing bullish divergences across multiple timeframes\u2014from the 15-minute all the way to the 4-hour chart. CasiTrades notes that these signals are a positive indicator both for short-term bounces and a potential macro recovery.<\/p>\n \u201cWas that the bottom for XRP? After reaching the .786 retrace at $2.05, #XRP is printing bullish divergences from the 15min all the way up to the 4hr chart. That\u2019s the kind of signal we want to see for both short-term bottom and macro! The bounce is holding so far! CasiTrades notes.<\/p>\n The analyst also points to key resistance at $2.25, suggesting that a convincing break above this level with strong momentum would likely negate the need for another retest of support. \u201cIf we break above $2.25 with strong momentum, that would invalidate the need for another support retest\u2014a very bullish sign<\/a>, CasiTrades writes, adding \u201c$2.00\u20132.01 remains a support if the $2.05 doesn\u2019t hold.\u201d<\/p>\n Moreover, she highlights a Fib Time Zone 3 that could span the entire month of April, forecasting a \u201cbullish window\u201d for XRP. According to the chart,\u00a0 once price meets its target, a larger impulse to the upside may follow<\/a>, with potential resistance lining up at $2.70 and $3.80+.<\/p>\n Meanwhile, Charting Guy addressed<\/a> that market chatter has surfaced about a possible head and shoulders pattern<\/a> on the XRP chart, with a projected breakdown target near $1.15. While acknowledging this bearish formation as a possibility, Charting Guy believes it is unlikely to play out, describing the pattern as \u201cirregular and ugly.\u201d<\/p>\n He maintains that XRP\u2019s overall trend is still biased to the upside, characterized by higher highs and higher lows.\u201c A lot of people are posting this possible head and shoulders that targets $1.15. I personally don\u2019t think it plays out, but it\u2019s a possibility. If it does happen, it\u2019s just a golden pocket backtest and the chart remains bullish overall,\u201d he says.<\/p>\n Charting Guy draws attention to the $1.70\u2013$1.90 zone that has repeatedly caught wicks in previous pullbacks, with daily closes managing to reclaim $2 or above. He believes that a final corrective dip to fill the March 11 wick lows\u2014potentially down to around $1.90\u2014could mark the end of the current retracement.<\/p>\n Additional support levels are located at the weekly Ichimoku base line at $1.94, the Weekly Supertrend at $1.73 and at the Weekly EMA Ribbon between $1.46 \u2013 $1.93.<\/p>\n At press time, XRP traded at $2.14.<\/p>","protected":false},"excerpt":{"rendered":" The XRP price fell as low as $2.0238 on Monday, potentially forming a local bottom. Since then, the XRP price is up almost 6%, however, the possibility of a deeper retracement remains. Two prominent chartists\u2014CasiTrades (@CasiTrades) and Charting Guy (@ChartingGuy)\u2014have shared their perspectives on whether the token has found its local bottom or if further […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-56153","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/56153"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56153"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/56153\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}