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XRP, one of the most popular cryptocurrencies, has climbed back near the $3 mark after a recent dip. However, this bounce hasn’t built enough strength to confirm a true recovery.
Veteran trader CasiTrades warns it may be too early to celebrate. While she sees potential for a breakout, she also cautions that this short-term move could be a trap. If it does, though, she believes it could quickly rally toward $3.41.
Bulls Struggle Near $3 Resistance
In her latest tweet, veteran trader CasiTrades highlighted that XRP is still stuck inside a falling wedge and is coiling just below the $3 resistance. According to her, this level, also known as the 0.382 Fibonacci retracement, has acted as a ceiling for almost 20 hours.
Despite repeated attempts, bulls have not yet broken through.
At the same time, she highlighted the strong support at $2.915, which matches the 0.5 Fibonacci retracement. Buyers have been actively protecting this level, refusing to let the price fall further.
Right now, XRP is trading between $2.96 and $3—a very narrow range. While this may seem small, in crypto trading, such tight spaces often suggest that a big move could be coming soon.
XRP Eyeing $3.41
CasiTrades mentioned that structurally, nothing has broken down. This means the overall market trend is still intact. If XRP can climb above $2.96 and stay there, it would be the first clear sign that strength is returning.
According to CasiTrades, the next resistance targets to watch are $3.21 and $3.41, both of which could come into play if momentum picks up
She also noted that RSI on smaller timeframes is showing bullish divergence. Simply put, this is a hint that the sellers are getting tired, and buyers may be preparing for a push.
As of now, XRP price is trading around $3, reflecting a jump of 1.8% seen in the last 24 hours, with the market cap hitting $178 billion.
