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The worth of XRP continues to coil simply above the mid‑$2 area, however veteran market technician CasiTrades (@CasiTrades) believes the consolidation is the calm earlier than a violent impulse increased. In a 4‑hour chart revealed on X on 17 April, the analyst traces an Elliott Wave rely exhibiting the token ending a textbook Wave 2 correction that started after December’s cycle excessive close to the 0.118 Fibonacci band at $3.40.
XRP Breakout In April Nonetheless Doable
From the height labelled (1), XRP has adopted a pointy, three‑legged A–B–C pullback (drawn in gold). Leg A bottomed in February at $1.77. Leg B retraced to the 0.236 degree at $2.99 earlier than the present slide in Leg C, which has to this point defended the 0.618 retracement at $1.54. Beneath lies a thick liquidity pocket between the 0.618 and 0.65 retracements—$1.55 to $1.45—highlighted by a inexperienced field on the chart.

CasiTrades describes that zone as “the most definitely goal” for any last sweep decrease, however stresses that value “has proven strong assist on the 0.5 retrace ($1.90). On the macro timeframe, not a lot has modified.”
Associated Studying
The chart additionally flags the 0.382 retracement at $2.24 with a pink line—the ultimate ceiling that have to be reclaimed to substantiate bullish reversal. “To interrupt main resistance at $2.24 (the 0.382), we’ll probably want one last push off both $1.90 or $1.55. If XRP clears and holds $2.24, these decrease ranges develop into far much less probably,” the analyst writes. The market has already printed a collection of upper lows on the 4‑hour Relative Power Index whereas value carved decrease lows, producing a transparent bullish divergence that reinforces the concept promoting strain is exhausting.
CasiTrades argues that the macro construction stays intact: the decline of the previous 4 months is Wave 2 inside a a lot bigger 5‑wave advance. “We’re very near ending this correction, whether or not the low is already in or we’d like yet one more assist check, I nonetheless imagine we’re about to enter macro Wave 3,” she notes.
Beneath classical Elliott tips, one wave of each impulse should prolong, and the analyst expects that function to fall to Wave 3. Utilizing Fibonacci growth from the Wave 1 impulse—the vertical purple projection—she derives upside aims on the 1.618, 2.618 and three.618 extensions: $6.50, $9.50 and “$12+” respectively.
“One wave should prolong in each impulse and most definitely this can happen on Wave 3. This isn’t hype, that is textbook Fibonacci + Elliott Wave logic. Correction backside is both right here or very close to. As soon as Wave 3 begins, it solely takes weeks, not months,” she explains.
Associated Studying
Sceptics questioned whether or not algorithmic manipulation might need invalidated conventional instruments, however the analyst stays unmoved. “This value motion has been irritating, however I imagine the market is essentially pushed by algos that to finish particular patterns, these patterns make cash for his or her creator. Sturdy demand could also be delaying the ultimate push decrease, however I nonetheless imagine the market probably wants to check these assist ranges to seize liquidity before a breakout. We’re at a crucial check proper now. If consumers can push the worth above $2.24, it might shift the algos as an alternative of looking decrease, they might flip path and chase momentum.”
Time, she insists, is working out for bears. “We’re mid‑April now. If XRP tags that last assist, even by the tip of this week, and quantity steps in, a breakout to new highs might very realistically kick off in late April and nonetheless fulfill the April breakout outlook.”
As of press time XRP is buying and selling close to $2.16 on Binance, only some proportion factors beneath the crucial $2.24 set off.

Featured picture created with DALL.E, chart from TradingView.com
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