With rising concerns about retail selling and XRP trading at around $3, analysts expect a breakout phase to begin ahead of the anticipated time
Ripple (XRP) begins the week at a critical technical level, testing a Fibonacci support level at $3. Analysts believe this area could determine the next major move for the digital asset. Ripple has maintained stability around this level for several days and has shown signs of price stability while gradually gaining momentum.
This consolidation could be a positive sign and often precedes a breakout when support remains solid.
All eyes on $3
According to an analysis published by CasiTrades, XRP's ability to maintain stability around $3 indicates strong buying pressure, confirming that this level is a potential launch point for the upcoming rise. The analyst clarified that if this support holds, XRP could enter a third bullish wave, which is usually the most intense and extended phase in Elliott Wave Theory.
It is expected that the next resistance levels will be around $4 and $4.50, with other targets set based on the development of sub-waves in the coming sessions. This period is being closely monitored as a key turning point for the token, and any breakout may indicate weakness in the current trend. CasiTrades added:
This is a critical support test for Ripple. The market is testing its strength while forming a clear structure. All eyes are on the currency's performance at the $3 support level!
In continuation of these technical predictions, the latest sentiment data shows that digital assets are currently experiencing the highest levels of fear and uncertainty among retail traders since Trump's announcement of tariffs six months ago. With negative comments outweighing positive comments during two of the last three days, the cryptocurrency analysis platform interprets this sentiment imbalance as a potential buy signal contrary to expectations.
