XRP Price Flashes Bullish Continuation Signals — Why A Surge Above $3 Is Possible | Bitcoinist.com

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The XRP price is once again capturing the attention of the market as it reclaims critical support levels and flashes a textbook breakout structure. With momentum building and bullish continuation signals aligning, analysts say the groundwork may be in place for a powerful Wave 3 surge—one that could send XRP soaring beyond the $3 mark

XRP Price Eyes Explosive Wave 3 Rally

In a rather detailed X (formerly Twitter) post on July 7, CasiTrades, a prominent crypto analyst and trader, shared new insights on XRP’s future price movements, predicting its next breakout formation and highlighting the potential for a powerful Wave 3 rally. The analyst stated that XRP is currently flashing strong bullish continuation signals, as recent price action aligns with classic technical patterns, suggesting a major breakout above $3 may be near.

Related Reading: XRP Price: Here’s What Has Been Driving The Calls For 1,000%Looking at CasiTrade’s chart analysis, it appears that XRP has completed a textbook consolidation phase and has now reclaimed the critical $2.25 level, which served as the apex of the multi-month Symmetrical Triangle structure. Notably, the reclaim came after a brief fake-out to the downside. The $2.25 level also aligns with the 0.382 Fibonacci Retracement, marking it as a key macro resistance zone that turned support

Currently trading just above $2.3, CasiTrades revealed that XRP is testing local resistance. She noted that a confirmed breakout above this area could open the path to higher Fibonacci targets of $2.69 and $3.04. These levels also correspond to the 1.618 and higher macro Fibonacci Extensions from the previous rally wave

Source: CasiTrades on XCasiTrades also highlights that XRP’s Relative Strength Index (RSI) is trending upward and remains below overbought zones, supporting continued upward momentum. She further notes that XRP is building this powerful breakout setup independently, without any bullish trigger from Bitcoin (BTC) or a major news catalyst

Moreover, XRP’s projected move has been identified as Wave 3 of 3 in the Elliott Wave Theory. While the exact top of this wave setup is yet to be determined, CasiTrades confirms that the breakout itself could define the structure of Wave 3, allowing for a more precise projection of bullish targets as the rally unfolds

Wave 4 Correction To Trigger 40% Breakdown

Following XRP’s anticipated bullish breakout and the completion of its projected Wave 3 peak, CasiTrades predicts that the cryptocurrency could soon enter a significant corrective phase in the form of Wave 4. This price correction is expected to retrace approximately 40% from the breakout high, depending on where Wave 3 tops out

Related Reading: XRP Roadmap To $8.5: Why The Next Impulse Could Start SoonThe analyst pointed to a possible timeline for the Wave 3 peak, noting a key Fibonacci convergence expected in late July that could not only mark the top but also the potential start of the Wave 4 decline. For instance, CasiTrades notes that if XRP extends to a $6.5 target, the resulting pullback would likely lead to a retest toward the current all-time high near $3.84.

XRP trading at $2.33 on the 1D chart | Source: XRPUSDT on Tradingview.comFeatured image from Getty Images, chart from Tradingview.com Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.