Jakarta, Pintu News – The Ripple market appears to be on the verge of a critical phase, with market analysts highlighting that time is running out for the token. Based on recent analysis, Ripple (XRP) is still stuck in the same price range since early April, but technical indications suggest that a major change may be imminent.
According to CasiTrades, a recognized technical analyst on the X platform, Ripple (XRP) has tried to break the upper limit but failed. This was seen when the price reached the 0.618 Fibonacci retracement point of the March to April drop, which was at $2.118. Despite rising alongside Bitcoin , the attempt was unsuccessful and momentum has now turned to push the price back towards support.
Horizontal support in the range of $2.10 to $2.17 adds strength to the resistance. Below that, there are medium-term support zones at the 0.5 retracement ($1.90) and the deeper 0.618 level ($1.55), both of which are marked as key supports. The relative strength indicator (RSI) shows a short-term bearish divergence, indicating that the latest price rise may start to lose steam.
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CasiTrades describes the current price structure as a classic Elliott Wave corrective pattern. The sharp decline in three “ABC” waves that began in early April has ended mid-month, and the market has since formed what is still considered to be Wave 2 of a larger impulsive sequence. “Ripple (XRP) is still in Wave 2. Everything is still in favor of a macro breakout. Until then, I will continue to watch key levels,” CasiTrades said.
A follower asked if the drop to $1.55 would happen quickly, to which CasiTrades replied that the recovery from that level is expected to be quick. The goal is to break the resistance above by using the momentum of that recovery. His personal strategy is to place the remaining cash at $1.90 and manage risk as soon as the first bounce appears.
Based on the Fibonacci time zone analysis first introduced this month, there is still room for a high-speed Wave 3 launch before April ends. “Momentum in crypto is changing rapidly. We could hit those support levels and start Wave 3 very, very soon!” said CasiTrades.
The Fibonacci multiple-derived extension targets remain unchanged: $6.50 (1,618), $9.50 (2,618 and described as “most likely”), and “$12+” at the 3,618 extension. Currently, Ripple (XRP) is stuck between the upper wall at $2.24 – the 0.382 retracement and the top of the alleged Wave (C) – and the floor huddled around $1.90.
Until either side of this corridor is broken with decisive volume, CasiTrades states that “nothing has changed in the big picture,” but warns that the window for an April resolution is narrowing.
Although Ripple (XRP) is currently stuck in a tight price range, technical analysis suggests that a major move may be imminent. Investors and market watchers should keep a close eye on the key levels mentioned to make informed investment decisions. Rapid momentum in the crypto market can bring surprises, and Ripple (XRP) is no exception.
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