XRP Holds at $2.03 Fibonacci Support — Next Targets $2.26 or $1.65
XRP tested and respected the macro 0.5 Fibonacci support at $2.03, according to analyst CasiTrades. The touch produced bullish divergences that suggest weakening selling pressure and open the possibility of a short-term corrective rebound toward $2.26, which may complete a subwave 2 in the current Elliott Wave count. Key resistance sits at $2.41: a decisive breakout and retest above that level would invalidate the bearish continuation scenario and signal structural recovery. Conversely, a failed corrective advance or rejection near resistance could resume a bearish trend, pushing price below $2.03 toward the $1.65 macro support in a potential five-wave subwave 3 decline. Traders are advised to focus on price structure, momentum, and clear invalidation levels, and to use disciplined risk management while monitoring whether the bounce becomes impulsive or remains corrective. This is market analysis, not financial advice.
Neutral
The article presents a mixed near-term outlook: bullish signals (precise hit of the 0.5 Fibonacci at $2.03 and bullish divergences) increase the probability of a corrective rebound toward $2.26, but key resistance at $2.41 and the possibility of a failed corrective structure leave the broader bearish scenario intact toward $1.65. This creates a conditional, range-dependent market posture rather than a clear directional conviction. Historically, precise Fibonacci bounces with bullish divergences often produce short-term recoveries (positive for near-term traders), but failure to break major resistance typically resumes downtrends — a pattern seen in past XRP pullbacks. For traders: short-term bias can be mildly bullish while price stays above $2.03, but confirmation (break and retest of $2.41) is required for a sustained bullish view; failure to hold $2.03 increases downside risk and favors bearish continuation. Risk management and watching momentum/structure are therefore critical.