- Crypto market slips 0.7% as Bitcoin holds near $105,300 support.
- XRP tests key $2.41 support after 6% weekly price gain.
- Analyst warns a drop below $2.41 could lead toward $2.00.
The global crypto market has pulled back slightly, falling to $3.56 trillion, down about 0.7% over the past day. Bitcoin is trading near $105,300, slipping just under 1% in 24 hours but still holding above important support levels. Ethereum follows the same trend, priced at around $3,560, also down slightly.
Despite the pullback, trading volume remains strong. Among altcoins, XRP stands out, rising more than 6% this week to $2.49. Other top tokens such as Solana and Cardano have struggled to hold gains, while Dogecoin and Tron show decent growth. Despite the weekend’s excitement, the market still lacks a clear direction, and the broader trend remains unchanged.
Related: 13 Days Left: Banks Face ISO 20022 Mandate as XRP, Stellar Tout Compliance
XRP Holds Its Breath?
Analyst Casi Trades shared that the next few moves could determine whether XRP is gearing up for a recovery or facing one more dip before the next rally begins.
Waiting for the Right Move
According to Casi, chasing breakouts in volatile conditions rarely pays off. “Always wait for the backtest of support,” they explained, predicting that XRP now appears ready to retest the $2.41. That zone marks a critical Fibonacci support area, one that could decide whether XRP holds steady or slides further.
Levels in Focus
If $2.41 fails to hold, the next logical target sits near $2.00 — the macro 0.5 Fibonacci level. That area, Casi added, aligns with the idea of one final corrective wave before a stronger uptrend begins.
The analyst will be watching closely for any signs of reaction at $2.41, as it could spark either a temporary bounce toward $2.50 or a deeper decline to retest the $2.00 support.
Bitcoin’s Role in the Setup
The broader market picture also matters. Bitcoin, which has yet to break its resistance, could influence XRP’s next move. Casi pointed out that BTC might need to revisit the $97K or even $94K zones before resuming its uptrend.
A confirmed breakout would only come if Bitcoin closes above $107K on the 4-hour chart, a level it recently tested and was quickly rejected from.
Market on Edge
In short, XRP and Bitcoin are both at turning points. The structure remains intact, but confirmation is missing. The next reaction near $2.41 could reveal whether this is a pause before continuation, or the calm before one final dip to long-term support around $2.
Related: Peter Schiff Shrugs At Gold’s Drop But Warns Bitcoin Can’t Handle The Same
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Source: https://coinedition.com/are-xrp-bulls-faking-the-rally-a-2-dip-could-be-next/
