Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
The long‑running stalemate in the XRP price action may be entering its decisive phase, according to market technician CasiTrades (@CasiTrades). In a chart update shared on X, the analyst stresses that “XRP’s setup has not changed – but the clock is ticking,” underscoring that the token remains confined to the same structural range that has contained it since early April.
Why The “Time Is Ticking” For XRP
The one‑hour Binance chart published by CasiTrades prints XRP at $2.07. A failed rally earlier in the session stopped precisely at the 0.618 Fibonacci retracement of the March‑to‑April downswing, labelled on the chart at $2.118. “XRP attempted a breakout alongside BTC but stalled at the 0.618 retracement, which is a common level for exhaustion. The rejection came fast, and now momentum is pulling us back toward support,” the analyst writes.
Horizontal supply blocks in the $2.10–2.17 region reinforce that resistance. Below, successive bands of medium‑term support appear at the 0.5 retracement ($1.90) and at the deeper 0.618 level ($1.55), both highlighted in green and annotated as “major support.” Relative‑strength index data in the sub‑panel show a short‑term bearish divergence – price flat while the RSI slopes lower – hinting that the most recent advance may be tiring before reaching overbought territory.
“Nothing about the bigger picture has changed. In fact, this just reinforces what I have been saying, we likely still need to sweep major supports like $1.90 or $1.55 before XRP is ready to break out. This should not continue to drag on… Momentum in crypto shifts quickly. We could tag those support levels and launch into Wave 3 very very soon,” Casi writes.
She frames the entire structure as a classic Elliott Wave corrective pattern. A sharp three‑leg “ABC” decline from the early‑April peak ended in mid‑month, and the market has since been carving out what the analyst still regards as Wave 2 of a much larger impulsive sequence.“ XRP is still in Wave 2. Everything still supports a macro breakout. Until then, I am watching key levels and letting it play out,” he states.
Responding to a follower who asked whether any excursion to $1.55 would occur swiftly, CasiTrades replied: “Yes I do think if it goes for $1.55 it would be a fast recovery. The purpose of it would be to break resistances above by using that recovery momentum.” She added that his personal strategy is to deploy remaining cash at $1.90 and manage risk with a stop once the first bounce materialises.
The analyst’s conviction rests in part on Fibonacci time‑zone analysis first presented earlier this month. That framework – now in its third projected epoch – still allots room for a high‑velocity Wave 3 launch before April closes. “Momentum in crypto shifts quickly. We could tag those support levels and launch into Wave 3 very very soon!” she contends. Extension targets derived from standard Fibonacci multiples remain unchanged: $6.50 (1.618), $9.50 (2.618 and described as “most likely”), and “$12+” at the 3.618 extension.
For now, however, XRP is stuck between an overhead wall at $2.24 – the 0.382 retracement and the high of the putative Wave ( C ) – and a floor clustered around $1.90. Until either side of that corridor is breached with decisive volume, CasiTrades says “nothing about the bigger picture has changed,” but warns that the window for an April resolution is narrowing: “This should not continue to drag on… We are still in Fib Time Zone 3 according to that analysis.”
At press time, XRP traded at $2.07.
Featured image created with DALL.E, chart from TradingView.com
Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.
His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.
Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.
For Jake, Bitcoin represents more than just an investment; it’s a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.
As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.
In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.
You can engage with his latest takes on Twitter: @realJakeSimmons.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
