Wave 3 Ignites As XRP Breaks Structure—Analyst Says ‘Fireworks Ahead’
Ripple Labs has decided to abandon its appeal in its securities case with the SEC. Market technician CasiTrades noted that XRP's price structure indicates it has completed a corrective phase and is entering wave 3. XRP's price dropped to $2.07, hitting key Fibonacci levels, before recovering to $2.19. The next significant resistance is at $2.25, which, if breached, could signal a bullish momentum shift. CasiTrades outlined two potential short-term scenarios: a move to $2.30 followed by a pullback to $2.25, or a surge towards $2.45–2.69 before any pullback. A successful conversion of $2.25 from resistance to support could lead to further gains, with historical resistance levels between $2.60 and $2.70. The market remains cautious due to ongoing regulatory compliance issues for Ripple. As of the latest update, XRP was trading at $2.19.
