XRP continues to fall in price over the past 48 hours gradually retreat $2.10 after failing to maintain gains above $2.10 earlier in the week. selling pressure rather almost controlled Although not aggressive, every time it attempted to move higher, it encountered local trendline resistance near $2.165.
Technical analysis shared by cryptocurrency analyst CasiTrades outlines key macro support levels that could determine whether XRP stabilizes and attempts another bullish recovery or falls into a bearish correction below $2.
XRP defends key macro support zone near $2.03
According to According to CasiTrades analysis: XRP is still defending the macro 0.5 Fibonacci retracement level near $2.03, which is acting as key structural support on the chart. This is evident in recent price action, with the cryptocurrency currently trading at $2.04, rebounding from a low of $1.99 over the past 24 hours.
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Analysts believe that XRP I have had a strong reaction recently. This level shows its importance as a demand zone. The attached chart shows that prices have repeatedly returned to this area as buyers intervened to prevent a sustained decline.
Although XRP briefly fell below the 0.5Fib level, this move lacked follow-through. The most important thing is that the XRP price did not lose the $1.97 level. CasiTrades has identified this level as a threshold that supports a more severe bearish scenario. As long as XRP trades above this zone, analysts believe that price action will There is still a possibility that it will increase Rather than moving toward other downside targets,
Well-defined bullish and bearish scenarios
Analysis overview Two different paths forwardand both depend on how XRP reacts to the $1.97 macro support level. On the bullish side, sustaining above $1.97 will leave the door open for further upside. As long as $1.97 holds, a deeper retracement scenario is not confirmed.
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From here, we can see XRP continuing its bullish move, but only a decisive break above the macro resistance near $2.41 will serve as confirmation of a stronger upside structure. If this level is cleared, the next prediction is in the range of $2.75 to $2.90, as shown in the purple bullish scenario in the chart above.
On the other hand, a loss of $1.97 would invalidate the current support structure and shift focus to the macro 0.618 retracement around $1.64. The chart shows this as a pink scenario and points out $1.64 as another major support level that could act to stop the selling pressure from escalating.
No official confirmation has been made in either direction, leaving XRP at a critical point where retaining macro support is a key requirement for any meaningful comeback attempt.
Featured image from Adobe Stock, chart from Tradingview.com
