XRP was one of the top crypto assets that suffered massive declines at the beginning of this week. Its attempt to reach $3 on Thursday was quickly thwarted by the bears.<\/p>\n
As the token trades at $2.82, a perfect Fibonacci bounce is now teasing a new uptrend.<\/p>\n
XRP delivered a textbook technical move this week, as it perfectly backtested the critical $2.79 support level. According to crypto analyst \u2018CasiTrades,\u2019 this is a key zone where bullish momentum was expected to emerge. In a recent post, she highlighted<\/a> that the macro 0.5 Fibonacci retracement continues to hold as a major floor during the ongoing correction.<\/p>\n However, the market\u2019s path remains undecided. To invalidate the need for a deeper pullback, XRP must break and climb above $2.97 to align itself with the 0.854 retracement and the bottom of Wave 1. A stronger confirmation of a new uptrend would come only if the crypto asset flips the macro 0.382 level at $3 into solid support.<\/p>\n But failure to reclaim these levels could invite another retest of $2.79 or even a deeper slide toward $2.58, the 0.618 retracement. She added,<\/p>\n \u201cWe need to be watching these levels closely on the RSI for any signs of exhaustion!\u201d<\/p>\n CasiTrades had recently weighed<\/a> in on XRP experiencing high volatility after a dramatic wick down to a double bottom near $2.70, which marked the end of its latest consolidation phase. Sharp moves like this are commonly interpreted as the first indications of a larger trend reversal, assuming crucial support remains firm.<\/p>\n The analyst observed that the sudden dip was likely driven by over-leveraged traders rather than a fundamental shift in market sentiment. Following the sell-off, XRP quickly reclaimed the macro 0.5 Fibonacci retracement at $2.79, where candles have consistently held strong.<\/p>\n A bold new analysis on XRP points to a familiar yet powerful setup that has historically marked the beginning of explosive rallies. According to another analyst, XRP often forms an ascending channel during the final phase of each cycle, a pattern that represents quiet accumulation before liftoff.<\/p>\n While research shows such channels break down 57% of the time, XRP\u2019s history tells a different story after having defied the odds in both 2017 and 2021. The Bull Market Support Band (BMSB) has come into play as a safeguard, and the analyst explained<\/a> that as long as weekly closes remain above it, the bullish structure stays intact.<\/p>\n In past cycles, XRP broke the top of its channel, retested briefly, and then launched to new all-time highs, eventually delivering gains of 350% in 2017 and 110% in 2021. If this pattern repeats, projections point to a whopping upside of $15-$33 by late 2025.<\/p>\n The post XRP\u2019s Perfect Support Test Hints at a Potential Breakout Ahead<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" XRP was one of the top crypto assets that suffered massive declines at the beginning of this week. Its attempt to reach $3 on Thursday was quickly thwarted by the bears. As the token trades at $2.82, a perfect Fibonacci bounce is now teasing a new uptrend. XRP\u2019s Flawless Fibonacci Play XRP delivered a textbook […]<\/p>\n","protected":false},"author":0,"featured_media":99782,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-99781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/99781"}],"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=99781"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/99781\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/99782"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=99781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=99781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=99781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Channel Setup Predicts Liftoff<\/h2>\n