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XRP opened the new month against a graph bending that describes popular trader basitrades (@casitrades) as “one of the most important structural levels” for the token this cycle. In a post on X of 1 May, the analyst argued that the $ 2.25 zone – a former Breakout -Pivot – has changed in the battlefield on which the next decisive movement will be forged.
XRP price is confronted with crucial back test
“May starts with a critical back-xrp’s next move [come] Rather than many realizing! “CasiDades writtenListen the current pullback as a retest of broken support for broken support resistance. According to the technician, not maintaining bids above $ 2.25 last week resulted in the formation of a corrective series of three wave as a result. Sub-Wave B seems to have ended with the short return from Wednesday to $ 2.25, which means that some casitrades calls “a likely C-Wave movement to $ 2.00” as the scenario to check.
The analyst provides a deeper Intraday -Liquidity Swing, and notes that “If that last leg takes place with Momentum, there is a strong chance that we will fall to $ 1.90”, a price level that has not been visited since the XRP outbreak earlier this quarter. The area of $ 1.90 coincides with both the 0.50 Fibonacci racement of the entire advance of the correction Lows and the 0.618 racement of the most recent leg-two retracation flies that many technicians treat and reaction zones with a high probability.
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Momentum meters in the short term indicate that the corrective phase without steam is more. “In the lower time frames, RSI is blinking exhaustion, which suggests that this dip can be short -lived,” the mail continues. Casitrades therefore consider the potential flush as “the last touch of support before XRP $ 2.25 turns around and it’s on the way to the races”, so that the upward goals are repeated at $ 2.68, $ 3.00 and “Beyond we break out once neatly.”
For the time being, the larger whole remains ‘unchanged’, the analyst concludes. “All signs indicate a last flush before the structure is ready to launch higher … Excited to see how May starts! Look closely – not with hype, but pure technical!”
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Market participants will keep an eye on the $ 2.00 – $ 1.90 belt for proof that buyers indeed defend the center of the recent rally. A convincing recovery of $ 2.25, on the other hand, would validate the position of the Casitrades that only a “critical back test” between XRP and the next leg stood for multi -year highlights.
At the time of the press, XRP traded at $ 2.21 and XRP slowly sharpening the crucial support zone of $ 2.00 (red).
Featured image made with dall.e, graph of tradingview.com