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Publishing Casitrades (Casitrades) XRP analysisShedding light on diving inside yesterday to about $ 1.61 after giving the level of $ 1.90 on a large -scale road. “Overnight, we saw $ 1.90, a collapse, and the price was wiped to about $ 1.61,” and the analyst commented across X, noting that this sudden decrease produced “the maximum new degrees on the relative power index across the market” and entered an amazing distance from the pre -identified support zone.
XRP to $ 13 in April?
Since the collapse on Monday, XRP has recovered significantly, but the analyst now looks at $ 1.90 as “a great resistance at this stage” and confirms that the collapse of a alternative 0.5 Vibonacci near $ 1.90, while disappointment for bulls, may still be consistent with a larger correction scenario.
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The same graph reveals a continuous corrective wave 2, as Casitrades asserts: “I believed for a while we were in the Macro 2. And he confirms that breach of the support level of $ 1.90 confirms that the corrective pattern is “more nullifying anything.” Less than $ 1.90, the next decisive axis, according to the graph, is “the golden retreat. 618”, which was marked at about $ 1.55.
This region is part of a wider green support range that extends from about $ 1.45 (decline. 65) about $ 1.55 (decline. 618). CASITRADES suggests that the price procedure that reaches this area may be the turning point that determines XRP on a road to a higher ground. “It is exactly what puts the type 3 wave that penetrates the Aths,” she said, while also noticed that “the next wave should easily break that resistance. Be prepared until this happens very quickly.”
The relative strength index on the Casitrades XRP chart appears to reach severe sales lands amid yesterday's crash, after decreasing to less than 20 before recovering to the low -1940s. This apostasy, which is in line with the price dating back from $ 1.61 to a $ 1.90 region, stresses the importance of short -term decline.
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However, the analyst confirms that any final confirmation is now dependent on whether XRP can install about $ 1.55 if it continues to slip. “If we do approximately $ 1.55, it actually enhances the upness of the major goals in April-$ 8 to $ 13,” Casitrades wrote, and they reiterated that the extension of the extension of the 3 successful wave can generate a highly multi-dollar domain.
Resistance is still at $ 1.90 provided and medium for traders in the direct term, with Casitrades clarifying that “the resistance test is $ 1.90 – happens now.” She believes that if PRICE fails to adhere to this threshold on any re -test, it is possible that XRP will continue to descend towards a sign of $ 1.55.
From there, the scheme indicates a potential wave reflection, if confirmed, it can provide one of the most important escapes of this course. “I still think this could be one of the most important months that prints XRP in this course,” added Casitrades, which confirms the high risks surrounding the level of 0.618 of the bear $ 1.55 and the possibility of forming a new upper motivation in the near future.
Whether XRP can reassemble its ranks and connect it through the roof of $ 1.90 after dipping to the golden pocket, the main question remains. At the time of the press, XRP was traded at $ 1.86.
Distinctive image created with Dall.e, Chart from TradingView.com