Amid the ongoing recovery, a notable market analyst has shared the level XRP must close above to confirm the correction has ended.
For context, XRP has started to show signs of recovery after sliding to about $2.70 nearly two weeks ago. It has managed to climb back above $3, but traders remain cautious as the market searches for direction.
XRP Needs to Breach $3.3825 to Confirm Correction is Over
Now, some analysts have highlighted important price levels that could determine whether XRP’s correction has ended or if more sideways action lies ahead.
For one, Christopher Inks, CEO of TWC, believes XRP is at a turning point. He said this while speaking with Scott Melker, host of the Wolf of All Streets. According to Inks, since July, XRP has traded inside a wide range, bouncing between support near $2.70 and resistance in the low $3s.
He described the recent dip to $2.70 earlier this month as a possible spring that would lead toward re-accumulation. From this level, XRP has reclaimed its monthly pivot at $2.962, a positive step toward recovery.
Inks explained that XRP will face its real test at $3.3825. For perspective, this level lines up with the descending resistance that has capped every rally since the July peak. He argued that if XRP closes and holds above $3.3825, the market would confirm the correction is over.
XRP Targets $4.42
This move would also flip the mid-range Fibonacci cluster between $3.35 and $3.43 into support. Once this happens, momentum could carry XRP toward a target near $4.42, which matches the 1.618 Fibonacci extension of the current range.
Along the way, the chart shows one of the major checkpoints at $3.66. This represents XRP’s previous all-time high, attained during the July rally, which marked the resistance that led to the recent drop. After breaching the $3.66 level, XRP would target $3.94 and $4.27 before pushing toward the $4.42 zone.
Other Analysts Agree
Meanwhile, another analyst, Casi, shared a similar view. She pointed out that XRP already broke out of its months-long consolidation and is now battling to hold $3 as new support. According to her, XRP has tapped resistance several times in recent days, pulled back slightly, and is now pushing again for a decisive move higher.
Notably, Casi highlighted momentum signals that strengthen the bullish case. Specifically, on the daily chart, the relative strength index slopes upward, and its moving average is holding as support.
She explained that this steady build in strength often comes before a strong breakout. To her, once XRP clears $3 with conviction, the next areas to watch sit at $3.08 and $3.27.
She also pointed to Fibonacci levels. Specifically, the 0.382 retracement at $3.00 has turned into support, while the 0.236 retracement near $3.25 stands as resistance. Breaking these levels would set up a clean backtest before XRP pushes higher.
Meanwhile, looking beyond the near term, Casi still expects the larger Fibonacci extensions to drive XRP toward $4.50. She said the previous high at $3.66 will likely act as a retest level once this breakout unfolds.
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