XRP Continues to Attract Close Attention from Market Analysts

XRP continues to attract close attention from market analysts, with technical assessments pointing to the potential for a significant upward movement.

XRP has been a subject of keen interest among technical analysts, especially as the heating up sparks interest in broader market trends.

As reported by AZCoin News, technical analyst Casi, known on Twitter as CasiTrades, has been closely following XRP’s price movements and is applying Elliott Wave theory to identify the asset’s potential trajectory.

According to Casi, XRP has been trading in a narrow band between $2.04 and $2.18 since April 16, with a brief spike to $2.14 on April 21 from the $2.07 range.

However, the token faced resistance at the 0.618 Fibonacci retracement level, which is slightly above the $2.10 mark. This level, usually a point of contention in strong trends, appears to have stalled the bullish push.

“We’re still in the same range. No new highs. New lows. XRP attempted an breakout alongside #BTC but stalled at the 0.618 retracement, which a common level for exhaustion. The rejection came quickly, and now momentum is slowing/bottoming.

Casi adds that in mid-April, XRP completed what she calls an ABC corrective pattern, reaching a high of $2.25. She suggests that the next impulsive wave (Wave 3) could be forming, pending the maintenance of key supports. Two critical support zones are identified at $1.90 and $1.55.

A sustained position above these levels would significantly increase the likelihood of an upcoming breakout. In her April 17 forecast, Casi outlined upside targets, including $6.50 at the 1.618 Fibonacci extension, $9.50 at the 2.618 extension, and potentially over $12 at the 3.618 level.

Relative Strength Index (RSI)

In addition to wave analysis, Casi incorporates momentum metrics. The Relative Strength Index (RSI) is currently at 39.92, placing it in a neutral zone, neither overbought nor oversold.

However, there is a bearish divergence as price remains above the previous candle and slightly higher, while RSI trends downward, which may suggest weakening bullish strength. Despite this, the overall structure still supports the possibility of an upcoming breakout if current supports hold.

Another analyst chimes in

Another technical analyst, Papa, is optimistic about XRP’s potential in the mid- to long term. Papa is known for his keen observations of crypto price trends and enjoys sharing his technical analysis insights with a large following.

In a recent analysis, Papa draws attention to a historical pattern that could be unfolding again in the present market. He compares XRP’s behavior in 2017, during the previous bull market, with its recent price action.

According to Papa, in late 2017, XRP formed a symmetrical triangle, which was later followed by a strong rally. From an initial surge of over 7,800% to reach $0.39, the token underwent consolidation before launching another rally to attain its all-time high of $3.31 by January 2018.

Papa believes that the asset is now demonstrating similar behavior, although it’s within a parallel channel rather than a triangle. After a steep climb from $0.50 in November 2024 to $3.39 in January 2025, XRP has pulled back by approximately 39%.

He maintains that breaking the $3 resistance could set the stage for a strong upward move, with projections as high as $14 if momentum aligns.

As technical indicators present a mixed picture, analysts remain largely optimistic about XRP’s mid- to long-term potential. Key support levels, Fibonacci targets, and historical parallels all contribute to the prevailing view that the digital asset could be on the verge of a significant breakout, pending confirmation from future price movements.

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