XRP Faces Critical $2.97–$3 Resistance Zone, Wave 3 Or Deeper Correction?

XRP stands at a pivotal point as it approaches the $2.97–$3 resistance ￰0￱ above this level could confirm bullish momentum and spark the next Wave 3 rally, but a rejection here risks triggering a deeper ￰1￱ Retest: $2.79 Support Holds Strong CasiTrades, a crypto analyst, recently shared an update on XRP’s ongoing market structure, pointing out that the backtest of the $2.79 support level was ￰2￱ to CasiTrades, this was precisely where momentum was expected to re-enter the market, and buyers have indeed shown strength at this ￰3￱ emphasized that the macro 0.5 Fibonacci level is continuing to act as a major support, anchoring XRP during the broader correction ￰4￱ Reading: XRP Needs To Defend $2.98 Support To Avoid Deeper Correction – Details Despite this positive reaction, the analyst cautioned that the market is not entirely clear just ￰5￱ the bounce from support shows encouraging signs, XRP still has work to do to confirm a fully bullish ￰6￱ explained that for XRP to invalidate the risk of a deeper correction, the price must break and sustain above the $2.97 ￰7￱ mark, representing the 0.854 retracement and the bottom of Wave 1, is a crucial barrier that could alter the trajectory of XRP if successfully ￰8￱ analyst added that the full confirmation of support would only come if XRP manages to flip the $3.00 level, which aligns with the macro 0.382 Fibonacci retracement range, into a reliable support ￰9￱ Or Collapse: XRP Market’s Defining Moment CasiTrades laid out the two potential paths for XRP based on its reaction to the key resistance ￰10￱ the asset successfully breaks above the previously mentioned resistance points, namely $2.97 and $3.00, it would signal a major strength and confirm a new trend for what she refers to as Wave 3 ￰11￱ outcome would likely validate the recent rally and suggest that the correction is ￰12￱ Reading: XRP Price Recovery Stalls – Traders Watching If Bulls Can Overcome Resistance Conversely, she warns of a potential downside if those resistance levels are not ￰13￱ this scenario, the market could retest the $2.79 support level once again.

A more bearish outcome would see the price dip even lower, toward the $2.58 level, which corresponds to the .618 Fibonacci retracement level. Thus, the crypto analyst concludes by emphasizing the importance of closely monitoring these levels on the RSI (Relative Strength Index) for any signs of ￰14￱ RSI is a momentum oscillator, and watching it in conjunction with the price action could provide early warnings of a potential reversal, helping to confirm whether the trend is strong or if a pullback is ￰15￱ image from iStock, chart from ￰16￱