CasiTrades targets $1.27 as potential XRP correction bottom

XRP is approaching a key support level, which analyst CasiTrades views as a likely bottom for the current corrective move. Traders have been monitoring the setup for several weeks, with the cryptocurrency trading at $1.3135 at the time of her analysis. CasiTrades, a cryptocurrency analyst followed by thousands of market participants, has identified XRP’s recent decline as part of a Wave 2 correction in the context of the Elliott Wave framework. According to her analysis, the price has fallen sharply from highs near $1.50, and she expects the bottom of this correction to occur at $1.27. She explains that $1.27 is just above a key Fibonacci retracement level at $1.2602, which represents the 0.618 retracement for this move.

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