XRP risks $0.90 test as analyst warns of delayed rally

XRP hovered near $1 in Thursday’s trading, challenging a crucial support level after losing ground at two significant Fibonacci retracement points. Analyst CasiTrades flagged $0.9855 as the chart’s immediate reversal area, stressing the importance of buyers holding the key $1 zone to avoid further downside and preserve the bullish technical structure. XRP has fallen below the 0.854 Fibonacci retracement near $1.086 and the 0.786 level at $1.091, shifting the technical focus to the $1 mark. CasiTrades stated that $0.9855 aligns closely with the 1.0 Fibonacci retracement and represents a key area for a possible price rebound. If price can quickly recover from this region, it would complete subwave 2 in her preferred wave count, maintaining a near-term bullish outlook. The next resistance, according to CasiTrades, sits around $1.13 and $1.25.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CoinTurk News.