In the analyst’s view, the market needs to respect this range to confirm that XRP is still in breakout mode. The importance of this level is also echoed in the chart shared by the analyst, where a rising wedge intersects with the highlighted horizontal support at $2.1688 around the 0.382 Fibonacci retracement level.
CasiTrades believes XRP would be ready for its next extension wave if bulls can defend the $2.16 to $2.18 range and reclaim $2.25. The price targets in view are $2.69 and $3.04, both based on Fibonacci levels. The first resistance level is at $2.3027 around the 0.618 Fibonacci extension. This price level is also a milestone for confirming the strength of the rally before a broader move to $3 and possibly above.
