Cryptocurrency analyst CasiTrades has shared an important update regarding the recent price volatility of XRP, emphasizing the technical structure in the weekend's movements. On Sunday morning, XRP experienced a sudden bullish surge, which CasiTrades attributes to the resurfacing of an old article related to ETF.
The article appeared without a clear date, leading many to consider it as recent news. According to the analyst, the subsequent price movements did not indicate real organic buying pressure, but rather typical behavior of the weekend market when liquidity is thinner and volatility can cause prices to spike.
Despite a brief bullish spike, XRP has surpassed the resistance level of $2.24. CasiTrades indicates that this resistance level has been a major focus for several weeks.
During the bullish surge, XRP reached $2.27 but quickly faced strong rejection. According to the latest update, XRP is retesting the $2.24 area which is currently acting as a resistance level once again.
CasiTrades emphasizes that until XRP can reclaim and successfully close above $2.24, the technical structure remains vulnerable to moves toward deeper support levels. The $2.24 mark remains a crucial level to maintain bullish momentum.
A confirmed recovery at this level will be necessary to confirm the ongoing bullish trend. Failing to do so could open the door for a pullback to the lower Fibonacci support areas identified on the chart, including areas around $2.08 and $1.95, and further down to the range of $1.87 to $1.85.
Focus On Cleaner Technology Is The Headline News
Analysts remind followers that weekend trading often provides less reliable trading signals due to thinner market liquidity. Price volatility may appear stronger under such conditions compared to regular weekday trading sessions. Additionally, the circulation of outdated or misleading headlines can further distort short-term price action.
CasiTrades emphasizes the benefits of focusing on clean technical chart patterns rather than reacting to external noise or sudden news events. In the posted chart, the key Fibonacci levels have been drawn to illustrate the main support and resistance areas.
Notably, the Fibonacci level of .382 around $2.24 has been labeled as the "key support level" which is now acting as resistance after being rejected. Other key levels identified include the .5 retracement level at approximately $2.08 and the larger support zone between $1.87 and $1.85.
RSI indicator (Relative Strength Index) accompanying shows that XRP is approaching overbought conditions during the surge, indicating that this bullish trend is unsustainable without significant volume or actual buying demand.
Finally, CasiTrades believes that a larger technical picture is forming beyond the immediate weekend volatility. Although short-term reactions to headlines may create temporary price fluctuations, the real focus remains on whether XRP can reclaim the $2.24 level with strong confirmation.
Until that happens, the market structure remains cautiously neutral to slightly bearish, focusing on lower support areas if selling pressure increases.
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The Recent Surge of XRP: A Bigger Picture is Forming
Cryptocurrency analyst CasiTrades has shared an important update regarding the recent price volatility of XRP, emphasizing the technical structure in the weekend's movements. On Sunday morning, XRP experienced a sudden bullish surge, which CasiTrades attributes to the resurfacing of an old article related to ETF.
The article appeared without a clear date, leading many to consider it as recent news. According to the analyst, the subsequent price movements did not indicate real organic buying pressure, but rather typical behavior of the weekend market when liquidity is thinner and volatility can cause prices to spike. Despite a brief bullish spike, XRP has surpassed the resistance level of $2.24. CasiTrades indicates that this resistance level has been a major focus for several weeks. During the bullish surge, XRP reached $2.27 but quickly faced strong rejection. According to the latest update, XRP is retesting the $2.24 area which is currently acting as a resistance level once again. CasiTrades emphasizes that until XRP can reclaim and successfully close above $2.24, the technical structure remains vulnerable to moves toward deeper support levels. The $2.24 mark remains a crucial level to maintain bullish momentum. A confirmed recovery at this level will be necessary to confirm the ongoing bullish trend. Failing to do so could open the door for a pullback to the lower Fibonacci support areas identified on the chart, including areas around $2.08 and $1.95, and further down to the range of $1.87 to $1.85. Focus On Cleaner Technology Is The Headline News Analysts remind followers that weekend trading often provides less reliable trading signals due to thinner market liquidity. Price volatility may appear stronger under such conditions compared to regular weekday trading sessions. Additionally, the circulation of outdated or misleading headlines can further distort short-term price action. CasiTrades emphasizes the benefits of focusing on clean technical chart patterns rather than reacting to external noise or sudden news events. In the posted chart, the key Fibonacci levels have been drawn to illustrate the main support and resistance areas. Notably, the Fibonacci level of .382 around $2.24 has been labeled as the "key support level" which is now acting as resistance after being rejected. Other key levels identified include the .5 retracement level at approximately $2.08 and the larger support zone between $1.87 and $1.85. RSI indicator (Relative Strength Index) accompanying shows that XRP is approaching overbought conditions during the surge, indicating that this bullish trend is unsustainable without significant volume or actual buying demand. Finally, CasiTrades believes that a larger technical picture is forming beyond the immediate weekend volatility. Although short-term reactions to headlines may create temporary price fluctuations, the real focus remains on whether XRP can reclaim the $2.24 level with strong confirmation. Until that happens, the market structure remains cautiously neutral to slightly bearish, focusing on lower support areas if selling pressure increases.