Analyst Zach Rector Warns XRP May Face Near-Term Correction at $2.27–$2.40
Crypto analyst Zach Rector warned traders that XRP is approaching critical Fibonacci resistance that could trigger a near-term correction. In a video on X, Rector said XRP respected fib levels and rose to $2.17 before meeting the 0.236 fib near $2.27, which he expects may cause a bounce or rejection. He noted a possible extension forming a double top near $2.40 before a pullback. Rector cited regulatory catalysts — delays in the Clarity Act and upcoming Washington markup votes — as potential sources of short-term volatility. He also disclosed a personal buy order at $1.66 and urged traders to monitor fib levels and political developments when sizing positions. Key takeaways for traders: watch the 0.236 fib at ~$2.27 and the $2.40 double-top zone for rejection or breakout, account for regulatory news that can amplify moves, and use disciplined risk management.
Neutral
Rector’s warning combines technical resistance (0.236 fib near $2.27 and potential double top at $2.40) with regulatory risk, producing a mixed signal. Technically, rejection at these fib levels would be bearish in the short term and could prompt a correction — especially if a double top forms. Conversely, a clean breakout above $2.40 would signal bullish continuation. The addition of political/regulatory uncertainty (Clarity Act delays and markup votes) increases event risk and could amplify intraday moves or produce false breakouts. Historically, XRP has shown sharp reactions to both technical rejections and regulatory headlines: regulatory setbacks have triggered swift sell-offs, while confirmed breakouts on volume have led to sustained rallies. For traders, this implies a neutral-to-cautious stance: short-term trading opportunities exist (range fades near resistance, breakout buys above confirmation level), but position sizing and stops are essential. Over the longer term, if regulatory clarity is achieved and price clears the $2.40 zone on volume, the outlook would turn bullish; if regulatory headwinds persist and technical support fails, the trend could revert bearish.