Analyst: XRP Must Clear $2.18 and $2.30 Resistances Before Targeting $2.73 Wave 3
A market analyst identified two key resistance levels XRP must breach before it can reach a projected Wave 3 top at $2.73 (the 1.618 Fibonacci extension). Since October XRP has fallen ~30% and currently trades around $2.06, on track for a third consecutive monthly loss. The analyst (Tara) says initial resistance sits at $2.18 (23.6% Fibonacci retracement) and a stronger horizontal resistance at $2.30. A further local resistance around $2.80 would stand between XRP and a possible move to $3. Important support is flagged at $2.07, while another commentator highlights $2.00 as a critical downside level. The analyst has preliminary Wave 4 and Wave 5 targets but may adjust them after Wave 3 completes. The report notes macro headwinds — including BOJ policy — as contributors to recent selling pressure. Disclaimer: informational only, not financial advice.
Neutral
The article is primarily technical analysis outlining required resistance breaches for an XRP rebound rather than announcing new fundamental catalysts. Key near-term levels ($2.18, $2.30, $2.80) and supports ($2.07, $2.00) create clear trade triggers: reclaiming and holding above those resistances would be bullish for short-term price action, while fails below support risk further downside. Macro headwinds (e.g., BOJ policy) increase volatility and downside risk, keeping overall sentiment cautious. Historically, technical break-and-hold above layered resistances often leads to accelerated moves as stop orders and momentum traders enter; conversely, failure to hold support has preceded sharper drops (e.g., Oct. 2022 FTX-related declines referenced). Therefore impact is neutral overall — actionable for swing traders who can trade the defined levels, but not a clear market-wide bullish or bearish catalyst.