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$XRP 《《《€£¥》》》

Rally #XRP ke $4.80 May Occur While Holding Key Support, Says Analyst

A trader and crypto analyst stated that the bullish momentum of XRP remains intact despite the recent correction. The analyst noted that XRP's response to the $2.75 level is crucial, and the asset has successfully reclaimed the $3 resistance level.

Key Support and Resistance Levels

According to Casitrades, a skilled crypto trader and analyst, XRP's bullish momentum remains intact despite the recent correction. In a post on X, Casitrades stated that the digital asset's response to the “$2.75 level is a major test” and has since responded well by reclaiming the $3 resistance level. The analyst suggested that if XRP continues to hold above $3, it could regain bullish momentum leading to new all-time highs in July.

Market data reveals that XRP experienced significant correction, falling from a high of $3.32 on July 28 to a low of $2.72 on August 2. This sharp decline triggered concerns among investors that the bullish momentum had faded and that sellers were beginning to take control. However, the digital asset has since managed to bounce back, briefly touching $3.10 on August 5 before stabilizing and consolidating around the $3.05 level.

This recent volatility follows a similar pattern from late July when XRP previously fell below the key $3 mark on July 24 before the subsequent rebound. At that time, experts like Casitrades initially suggested this indicated the “end of the correction and the beginning of a new upward push.” However, XRP's sharper decline below $3 in early August means this digital asset has not fully regained its bullish momentum.