Latest news with #CasiTrades
Business Mayor
26-05-2025
- Business
- Business Mayor
XRP Risks Fall To $1.55 If This Support Level Fails
XRP prices have fallen 4.08% in the past day alongside the majority of the crypto market following the US announcement of a potential 50% tariff on goods being imported from the European Union (EU). Amid this market downturn, popular market analyst CasiTrades has stated that XRP lies in danger of a further decline should a particular support level fail. XRP Must Avoid Crash Below $2.25 – $2.26 As Bitcoin prices reached a new all-time high in the past week, XRP followed suit, reaching as high as $2.45 before experiencing a price rejection driven by negative macroeconomic pressure due to the new international tariffs by the US Government. In the day, XRP price notably declined by over 5% from $2.45 to $2.33 before finding some stability to enter a sideways movement as seen in the last few hours. According to CasiTrades, XRP's rejection aligns with a 1:1 Fibonacci extension of the corrective C-wave pattern in the Elliott Wave Theory, signaling the possible exhaustion of the previous relief rally seen earlier in the week. Notably, the analyst warns that XRP's decline may lead to a retest of 'major structural support' at the $2.25 – $2.26 price zone, which aligns with the Fibonacci retracement level 0.382. CasiTrades explains that Fib 0.382 has represented a key technical price level over the past six months. Therefore, a price break below this level could trigger deeper corrections, forcing XRP's price as low as $1.55 – $1.90, a price move that would wipe out all price gains that have been recorded since the crypto market uptrend resumed in early April. However, if the $2.25 – $2.26 support zone holds, such market resilience could trigger a new price rally to around $2.70 and beyond. Thereafter, XRP is likely to return to the local peak of the current bull run at $3.84. XRP Price Overview At the time of writing, XRP continues to trade at $2.33 following a 1.45% decline in the past week. However, the altcoin is up by 9.77% in the past month, reflecting that the majority of new market entrants are still in profit. In other positive news, Volatility shares launched an XRP futures exchange-traded fund (ETF) on May 22. It is a 1x fund, indicating that it would track the daily performance of XRP futures contracts with no leverage. With a total market cap of $233.58 billion, XRP remains the 4th largest cryptocurrency and third-largest altcoin in the market. READ SOURCE
Business Mayor
14-05-2025
- Business
- Business Mayor
XRP Price Rejected At Resistance: Why $2.69 Holds The Key
Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. XRP is facing a strong resistance level on its path to the $3 price level and above, with the past 24 hours witnessing some sort of rejection at this resistance level. XRP price action has gradually built momentum in May, leading to a sharp move toward the upper $2.60 range. On May 12, XRP briefly touched $2.63 before retreating slightly , now trading around $2.57. Directly ahead is the major resistance at $2.69, and technical analysis shows that this zone now holds the key to whether XRP c an continue its march toward $3.00 or undergo a pullback for consolidation. $2.69 Resistance Is Technical For XRP Price Crypto analyst CasiTrades has highlighted the $2.69 price point as an important resistance level for the XRP price moving forward. According to the analyst's chart, which accompanied a post on social media platform X , this level represents the 0.236 Fibonacci retracement from XRP's all-time high and is a key level to watch for correction. Related Reading Notably, this zone has led to multiple retracements since December 2024, with each attempt seeing sellers quickly step in to defend it. It even proved difficult to break when XRP broke to reach $3.3 in January, and an order block was created on the daily candlestick timeframe just before the ensuing rally above it. Source: CasiTrades on X As noted by the crypto analyst, momentum indicators have remained relatively muted during XRP's recent rally. The crypto has also completed what appears to be a full 5-wave Elliott count from the analyst. However, instead of a retracement, the price has pressed forward slowly alongside the rest of the crypto market. This slow, controlled push higher often signals strong underlying demand, strong trend, and heavy accumulation. As it stands, the only thing left to do is to see how the XRP price performs at the $2.69 resistance. Breakout Or Rejection: Two Opposite Outcomes With High Impact The analyst warns that the $2.69 level could be a final barrier before XRP is cleared for a run toward $3.00 and beyond. A confirmed breakout, ideally with a strong daily candle close above this level, would invalidate short-term bearish pressures and cause a run above this level. Related Reading However, if $2.69 once again proves too strong for bulls to overcome, the altcoin may enter a temporary cooling-off phase. In this case, the next logical support level is around $2.30, which is close to the 0.382 Fibonacci retracement level. This is another breakout/rebound zone that could offer a healthy reset for the XRP price. In either scenario, the price behavior at $2.69 is expected to set the tone for the rest of May and determine whether XRP can extend its 2025 bullish trend. At the time of writing, XRP is trading at $2.57, up 4% in the past 24 hours. XRP trading at $2.59 on the 1D chart | Source: XRPUSDT on Featured image from Getty Images, chart from
Business Mayor
22-04-2025
- Business
- Business Mayor
XRP Vs. Dogecoin: Analyst Reveals Price Action Levels For The Heavy Hitters
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Crypto analyst Mindfully Lost has revealed price action levels for XRP and Dogecoin . He mentioned the resistance and support levels to keep an eye out for these heavy hitters amid this market downturn. Price Action Levels For XRP And Dogecoin In a TradingView post , Mindfully Lost stated that the range between $2.20 and $2.24 is the resistance level for the XRP price , noting that there is low volume around this area. Meanwhile, he revealed that the range between $1.92 and $1.95 is the major support level for the altcoin, as there is high volume around this area. The analyst told market participants to expect some consolidation through these levels. Meanwhile, for Dogecoin, the crypto analyst revealed the range between $0.167 and $0.169 as the major resistance level for the meme coin, noting that there is low volume around that area. Meanwhile, the range between $0.148 and $0.151 is the major support level for DOGE, as there is high volume around that zone. Besides Mindfully Lost, other crypto analysts such as CasiTrades have highlighted the $2 zone as being important for the XRP price. In a recent X post, CasiTrades remarked that XRP is still struggling at the $2.17 resistance, but lower supports are still valid. Source: CasiTrades on Tradingview The analyst revealed that there have been multiple failed attempts to break the $2.17 resistance. She added that this level continues to act as a strong ceiling and that if this rejection continues to play out, then the support at $1.90 and $1.55 remains firmly in play, indicating that the altcoin could still drop below $2. XRP & DOGE Whales Have Been Busy XRP and Dogecoin whales have been busy amid this market downtrend. In an X post, Martinez revealed that crypto whales have sold over 370 million XRP since the start of the month, presenting a bearish outlook for the altcoin. On the other hand, Dogecoin whales are actively accumulating. The analyst revealed that these whales have bought over 800 million Dogecoin in the last 48 hours, presenting a bullish outlook for the foremost meme coin. Binance traders are also betting on a bullish reversal for DOGE as Martinez revealed that 72.13% of traders on the crypto exchange with open positions are currently long. A bullish reversal for XRP and Dogecoin will largely depend on the Bitcoin price action, with the flagship crypto looking likely to drop lower at the moment. Meanwhile, crypto analysts Ali Martinez and Master Kenobi have highlighted how important it is for the Dogecoin price to hold the $0.14 support. Martinez stated that the foremost meme coin could drop below $0.10 if it loses that support level. Master Kenobi suggested that a drop below the $0.14 support could mark the end of Dogecoin's bull run. XRP trading at $2.07 on the 1D chart | Source: XRPUSDT on Featured image from iStock, chart from
