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Shiba Inu Poised for 1700% Surge, Why $0.0004729 May Be in Play for SHIB

Okoya David
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Shiba Inu Poised for 1700% Surge, Why $0.0004729 May Be in Play for SHIB

A market analyst believes Shiba Inu is setting up the stage for a possible 1,700% upsurge.

Amid the broad crypto market uptrend, the question for many speculators is how high crypto assets can go. For the leading meme coin Shiba Inu (SHIB), one market watcher has suggested that the answer to this question could be “very high.”

Prominent crypto analyst “CryptoELITES” has opined that SHIB can surge to the $0.000472905 price point in the current bull market. At current prices of $0.0000268, the price projection represents a nearly 1,700% increase.

CryptoELITES made this call in an X post on Tuesday, December 10, sharing a chart suggesting that SHIB had formed a cup and handle chart pattern on its weekly candle chart. This chart pattern, which has persisted for over three years, is typically considered bullish as it often signals the continuation of an uptrend.

 

SHIB/USDT weekly candle chart
SHIB/USDT weekly candle chart
Source: @CryptoELITES

Notably, the chart highlights a descending trendline that has acted as resistance for SHIB since October 2021. The nalyst expects SHIB to break this trendline and rally to $0.000085171, $0.000183312, and eventually $0.000472905.

However, CryptoELITES says this is contingent on a collapse in Bitcoin’s dominance, which would lead to more capital rotating to altcoins and memes in the bull market.

For context, over the past few weeks, Bitcoin’s market cap dominance has sharply reduced from highs of around 61.53% to lows of 54.78% and is currently around 57.17%.

Interestingly, CryptoELITES is not the first analyst to project a SHIB surge to around the $0.0001 and $0.0004 price points in recent months.

In April 2024, market commentator Eunice Wong contended that SHIB was poised to hit the $0.0001 price point. In July 2024, CIFDAQ Blockchain Ecosystem Chairman Himanshu Maradiya told Forbes that he expects to see SHIB trading between $0.0001 and $0.0003.

What will drive this rally that seems to be plucked right out of a SHIB holder’s wet dream, and when will it materialize?

Maradiya suggested that continued favorable market conditions and advancements in the SHIB ecosystem will drive SHIB’s rally.

As for how long it will take to materialize, analysts remain divided. While market commentators like Wong and Maradiya suggest 2025 is the year to watch, Changelly currently suggests that $0.0001 is not happening until 2029 and $0.0003 until 2033.

Technical Patterns Confirm Solana Could Surge 1,734% to $4,000: Details

Albert Brown
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Technical Patterns Confirm Solana Could Surge 1,734% to $4,000: Details

Analyst Ali Martinez has identified a cup and handle pattern in the Solana chart, suggesting SOL could experience a significant breakout to $4,000.

Solana has captured attention with its recent price movements. Amid a broader market decline on Tuesday, the cryptocurrency established a support level at $204. However, it quickly surpassed resistance levels at $210 and $212, climbing to $219 at the time of writing.

Despite this recent price action, Solana remains down 8.5% over the past week. While the current price movements may seem unremarkable, a technical pattern identified by analyst Ali Martinez signals the possibility of a massive rally ahead.

Promising Outlook For Solana

Specifically, Martinez has spotted a bullish cup and handle pattern on Solana’s monthly chart. This pattern began with a peak in 2022, followed by a sharp decline to a bottom in early 2023 and a steady recovery through 2024.

The handle of the pattern, which forms a consolidation zone, has ranged between $120 and $250.

Martinez suggests that if Solana breaks out from this consolidation zone, the price could soar. Using Fibonacci levels, Martinez projects potential price targets of $670.43, $2,236.35, and even $4,000.

For Solana to hit the $4,000 target from its current price of $218, it would need to climb approximately 1,734.86%.

Image
Solana Chart by Ali Martinez

 

Predictions for Solana Network Growth

In a separate instance, the Bitwise investment team predicted substantial advancements for Solana by 2025. They highlight that serious projects moving to Solana could drive its price to $750. 

According to the report, early adoption by projects such as Render reflects the growing interest in the network capabilities beyond its current dominance in meme coins. The report suggests Solana momentum is poised to accelerate as more projects join its ecosystem.

This prediction aligns with the demonstrated potential for better regulation and a more favorable political climate, making digital assets more attractive and diverse in use cases. 

Staking Metrics Showcase Network Confidence

On-chain data further underscores robust network participation, with Solana staking activity recovering significantly in 2024. The number of staked tokens surged past 400 million by December 2024, marking a notable increase in staking confidence. 

Solana Staking, Dune
Solana Staking, Dune

Moreover, the dollar value of staked tokens mirrored this growth, nearing $100 billion as prices rebounded. Despite market fluctuations, the stability in staking activity from mid-2022 to early 2023 highlighted consistent holder participation. 

Hoskinson Says Cardano Will Become a Multichain Ecosystem with Midnight’s Integration

Elendu Benedict
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Hoskinson Says Cardano Will Become a Multichain Ecosystem with Midnight’s Integration

Cardano founder Charles Hoskinson argues that the Midnight integration will make the Cardano ecosystem a multichain network.

In a Tuesday tweet, Hoskinson insisted that the imminent mainnet launch of Midnight will boost the Cardano ecosystem’s prowess. He noted that Cardano would become a multichain network with the integration, allowing it to connect with other chains like Ethereum and Solana.

Notably, Cardano’s sidechain Midnight is still in testnet. The team launched the testnet phase in early October, allowing developers globally to participate in the network’s evolution.

For further context, Midnight leverages zero knowledge (zk) to provide a data-protected protocol for users. This allows the chain users to engage with decentralized applications (dapps) while maintaining data privacy.

Cardano Founder Teases BitcoinOS Rift

Meanwhile, the latest Midnight assertion came in an X community engagement. The Cardano founder responded to critical questions on the partnership with BitcoinOS (BOS) and decentralized finance (DeFi) deployment on the Bitcoin network.

For context, Hoskinson tweeted that building DeFi on the Bitcoin network will be Input Output Global’s (IOG) core focus next year. Shockingly, he revealed they will pursue the goal with a new partner, Fairgate Labs.

The disclosure attracted comments from the Cardano community, with notable enthusiast Angry Crypto Show inquiring why IOG will not pursue the course with BitcoinOS, a project it announced a partnership with earlier. 

In response, Hoskinson noted that Fairgate developed the technology on which BitcoinOS is built. He also stated that the project does not intend to launch its own token, a subject that has raised contention between BitcoinOS and the Cardano ecosystem.

Furthermore, the Cardano founder infers that with Midnight, the Cardano ecosystem can still tap liquidity from other chains in the case BitcoinOS ditches the network during integration.

BitcoinOS CEO Responds

Meanwhile, BitcoinOS founder Edan Yoga responded to Hoskinson’s comments. He assured the Cardano founder that the project does not intend to leave Cardano, disclosing that his team is actively working with Cardano developers to integrate BOS on the network.

However, Hoskinson urged Yoga to confirm his affirmations and launch BOS as a native token on the Cardano ecosystem. To this, Yoga noted that BOS will be on Cardano. He stated that BOS is a recursive token and would be an “interesting token type for Cardano.”

Notably, Cardano’s EMURGO forged a collaboration with BitcoinOS nearly two months ago. The partnership would see the deployment of smart contracts on the Bitcoin network, while Cardano would tap into Bitcoin’s liquidity.

Crucial Metric Confirms XRP and Dogecoin Bull Market Is Still Early Despite This Week’s Crypto Downturn

Sam Wisdom Raphael
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Crucial Metric Confirms XRP and Dogecoin Bull Market Is Still Early Despite This Week’s Crypto Downturn

Market intelligence platform Santiment points out an important metric confirming that XRP and Dogecoin still have more room for growth.

Santiment latest analysis calls attention to the Mean Dollar Invested Age (MDIA), which has been flashing bullish signals for XRP and Dogecoin. Despite the market experiencing a notable downturn, Santiment believes the metric supports the continuation of a long-term bull trend.

MDIA Bullish for XRP and DOGE

The MDIA represents the average age of all invested dollars in a specific asset. A declining MDIA, as seen in XRP and Dogecoin, indicates that investors are reactivating previously dormant coins. This increase in activity points to a renewal in market optimism and a healthy network.

Santiment data reveals that XRP MDIA has decreased by 22% over the past 14 weeks, now sitting at 865 days. For Dogecoin, the decline is more substantial, dropping 31% to 370 days in eight weeks. 

XRP, Dogecoin and Bitcoin MDIA Santiment
XRP, Dogecoin, and Bitcoin MDIA | Santiment

Such downward trends in MDIA occur in bull markets, as observed during the 2017 and 2021 crypto rallies, and indicate that the bull run is still intact. According to Santiment, during the 2017 and 2021 bull markets, the uptrend did not end until the MDIA began increasing.

The market intelligence resource noted that while short-term price fluctuations may persist, these MDIA trends show a strong foundation for future price gains. As long as the MDIA keeps declining, the likelihood of a prolonged bull market for XRP and Dogecoin remains high.

XRP Resumes Bullish Momentum

Interestingly, XRP is already showing resilience amid the recent market challenges, largely due to the imminent launch of Ripple RLUSD stablecoin.

Ripple CEO confirmed regulatory approval for the project, which had been operationally ready for some time. Notably, this indicates that the only impediment stopping the launch has cleared, and Ripple could roll out the stablecoin any day.

This development has rejuvenated investor confidence, contributing to a 7.9% rebound in XRP price within 24 hours. CrediBULL, a prominent crypto analyst, highlighted XRP strong price momentum, calling it one of the cleanest impulsive price action charts in market.

The analyst predicts XRP will outperform most assets in the coming months. Following its corrective phase, CrediBULL expects XRP to enter another major price surge, potentially pushing it to double-digit levels.

Dogecoin Setting up for Gains

Meanwhile, Dogecoin has struggled to recover, experiencing a 3.76% drop over the past 24 hours. However, its MDIA decline shows active participation from long-term holders, a precursor to major price movements.

Market watcher Charting Guy predicts that Dogecoin consolidation phase will conclude within ten days, setting up the stage for a rally to its all-time high. He presented a fractal analysis that aligns with historical patterns from previous cycles.

Also, crypto trader Rose provided a trade setup for Dogecoin, suggesting a potential price surge to $0.70 or even $0.99777. The analyst advised investors to watch for bullish signals around $0.34321 while maintaining disciplined risk management due to Dogecoin’s volatility.

XRP Soars Over 20% as Ripple CEO Confirms NYDFS Approval for RLUSD Stablecoin

Lele Jima
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XRP Soars Over 20% as Ripple CEO Confirms NYDFS Approval for RLUSD Stablecoin

XRP spikes 20% following Ripple’s announcement on the New York Department of Financial Services (NYDFS) approval for its RLUSD stablecoin. 

Brad Garlinghouse, the company’s CEO, first disclosed the development in a December 10 X post.

 

Notably, the NYDFS finally approved the stablecoin for launch after months of consideration. Ripple has been pushing to secure the regulator’s greenlight over the past few months. 

It took several steps to facilitate the approval process, including acquiring Standard Custody & Trust Company, which operates under an NYDFS limited-purpose charter. 

Upcoming Launch of RLUSD 

The latest move paves the way for the mainnet launch of RLUSD, which could happen at any time. In the X post, Garlinghouse revealed that the company will soon announce the exchange and partner listing of the stablecoin. 

Ripple has already collaborated with top exchanges to prepare for RLUSD’s upcoming listing. These include Uphold, Bitstamp, CoinMENA, Bullish, MoonPay, Bitso, and Independent Reserve. 

While RLUSD will initially list on these platforms, Ripple plans to extend its support to more exchanges in the future. 

XRP Soars Over 20% After RLUSD Approval 

Meanwhile, the approval news demonstrated how the stablecoin can influence XRP’s trajectory. Prior to the announcement, XRP plunged below the $2 price mark, falling to an intraday low of $1.91.  

However, XRP rebounded nicely above $2 immediately after Ripple’s CEO confirmed the development. Afterward, XRP surged to a daily high of $2.41, reflecting an increase of 26.17% from the $1.91 intraday low. 

Due to heavy selling pressure, it has retraced slightly to $2.34 at press time. XRP’s daily volume has soared by 12.41% over the past 24 hours to $24.4 billion. 

The token is less than $6 billion away from surpassing USDT’s market cap of $138.67 billion, which will help it reclaim its position as the third-biggest cryptocurrency by market cap. 

No Official Launch Date Yet 

Given the influence RLUSD has on XRP’s trajectory, many investors are anticipating the mainnet launch of the stablecoin. Although speculation suggests it might launch before the end of this year, neither Garlinghouse nor Ripple has confirmed this development. 

According to Garlinghouse, any official launch date for the stablecoin launch will come directly from Ripple. 

In the meantime, the project is still in beta testing, which began in August. The stablecoin, which is pegged at a 1:1 ratio with the U.S. dollar, will be backed by several financial instruments, including short-term U.S. treasury bonds and USD deposits. 

Upon its release, RLUSD will complement XRP across Ripple’s payment solution. 

Here Are 3 Major Events on Horizon That Could Drive XRP Next Price Move

Abdulkarim Abdulwahab
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Here Are 3 Major Events on Horizon That Could Drive XRP Next Price Move

While XRP has experienced a notable price drop amid the broader pullback, several upcoming developments could potentially turn the tide for XRP.

As of today, XRP briefly dipped below $2 and is struggling to recover, currently trading at $2.13 at the time of writing. This represents a massive 21% loss in its weekly price trend.

In light of this, XRP enthusiasts are turning their attention to three key factors that could reignite bullish momentum for XRP. These developments are expected to have a direct impact on the token’s price.

Ripple’s RLUSD Stablecoin Set to Go Live

Ripple is preparing to launch its highly anticipated U.S. dollar-pegged stablecoin, RLUSD. This launch, which will follow regulatory approval from the New York Department of Financial Services (NYDFS), is expected to enhance Ripple’s offerings for institutional payments.

Ripple recently dispelled rumors suggesting a launch date of December 4, clarifying that it is still working with the NYDFS to obtain final approval.

In the most recent update, Ripple CEO Brad confirmed that Ripple USD had received final approval from the New York State Department of Financial Services (NYDFS). Soon, the RLUSD launch will be announced by Ripple’s official Twitter account.

 

The introduction of RLUSD aims to strengthen Ripple’s role in cross-border settlements and increase XRP’s utility within its ecosystem. 

Market analysts speculate that the stablecoin’s rollout could attract more institutional adoption, which, in turn, could drive demand for XRP as a bridge currency in Ripple’s payment solutions.

XRP ETFs

XRP community members are speculating that major asset management firms like BlackRock may be preparing to file applications for XRP exchange-traded funds (ETFs). Meanwhile, four other asset managers have already submitted applications to the SEC for an XRP ETF.

These include prominent firms such as WisdomTree, 21Shares, and Bitwise. Notably, Canary Capital, an investment management firm, initiated the process for an XRP ETF filing in October, with others following suit.

An approved XRP ETF would provide regulated exposure to XRP, paving the way for mainstream adoption and significant capital inflows. Similar Bitcoin spot ETFs have already attracted billions in investments, and a comparable surge for XRP could substantially impact its market performance.

Ripple vs. SEC Settlement on the Horizon

The ongoing legal battle between Ripple and the SEC continues to hang over the XRP market. However, there is growing speculation that a settlement may be more likely after the swearing-in of President-elect Donald Trump in January.

A favorable resolution would eliminate perceived regulatory uncertainty around XRP and further solidify its classification as a non-security. Such a development could be a powerful catalyst for XRP’s price appreciation, especially with Gary Gensler no longer heading the SEC.

Bitcoin Maxi Admits XRP Breakout Looming, Targets $3.05

Sam Wisdom Raphael
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Bitcoin Maxi Admits XRP Breakout Looming, Targets $3.05

Bitcoin maxi Christopher Jaszcynski, the host of the MMCrypto channel, believes XRP is on the verge of a breakout, targeting a new seven-year peak.

Jaszcynski disclosed this in a recent analysis on X, admitting to his 1.5 million followers that XRP might be looking to overcome the latest bearish phase. For context, XRP has faced immense resistance since reaching the $2.9 top on Dec. 3.

XRP Faces Roadblock at $2.62

The market pundit shared a 4-hour chart indicating that XRP is witnessing a roadblock above the $2.6 price mark. Interestingly, since correcting below this level on Dec. 3, XRP has failed to push through each time it retested the $2.6 territory, confirming the formation of a massive wall in this region.

At the time of Jaszcynski commentary, the asset was again retesting the $2.62 price level. However, this eventually led to another massive pullback. XRP has since crashed to $1.96, representing a 29% drop from the $2.62 high. 

Amid the latest bearish pressure, XRP now battles with the support at the lower Bollinger Bands ($2.35), after the bears breached below it. For the anticipated breakout to occur, XRP must first recover this support and leverage it as a launchpad to reclaim the 20-MA currently at $2.45.

Notably, market data confirms that XRP would only be able to engineer its next attempt at the $2.62 resistance after hitting $2.55, which represents the Pivot point. A move above this level would flip the short-term momentum from bearish to bullish, granting the bulls enough strength.

Resistance Levels Above $2.62

According to Jaszcynski, should XRP successfully break above the $2.62 roadblock, it could target the $3.05 level, marking a new seven-year peak. The last time XRP saw $3.05 was in January 2018, as it attained an all-time high of $3.31. A rally to $3.05 would demand a 44% increase from current levels.

However, before XRP can clinch this milestone, it would first have to break above the upper Bollinger Band of $2.72, forming a massive resistance level. Beyond this, the bulls could face another round of selling pressure at $2.84, marking the last roadblock below $3.

XRP 4H Chart
XRP 4H Chart

Despite the current downturn, analyst Cryptoes confirms that XRP has recently closed above the 4-hour falling wedge support after briefly wicking below it. Meanwhile, on the monthly chart, market pundit Levi has identified a breakout from the W pattern.

At press time, XRP currently trades for $2.12, down 12% over the past 24 hours. Despite this, the bulls appear to be resuming control, as the altcoin has increased 1.2% over the last hour. Some analysts believe the next XRP explosion will come unexpectedly.

WhiteBIT And Visa Launch The First Ever Debit Card For Crypto Payments With Cashback For All Users

Albert Brown
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WhiteBIT And Visa Launch The First Ever Debit Card For Crypto Payments With Cashback For All Users

The WhiteBIT Nova card allows EU residents to start spending cryptocurrencies right away, with no deposit required, and enjoy up to 10% cashback as a standard feature for all users.

WhiteBIT, one of the largest European cryptocurrency exchanges, has partnered with Visa payment system and PSP provider to introduce the first debit card that enables crypto transactions with cashback benefits for everyone. Called WhiteBIT Nova, the Visa debit card transforms everyday spending, empowering users to seamlessly spend their digital assets while earning rewards. Designed for all daily needs, the WhiteBIT Nova card makes it easier than ever for users to integrate cryptocurrencies into their everyday lives.

Volodymyr Nosov, CEO of WhiteBIT, commented on the launch: “The WhiteBIT Nova card is a major step in making cryptocurrency a practical choice for everyday transactions, particularly in Europe, a key market for our growth. We are committed to fostering the mass adoption of blockchain technology by bridging the gap between digital assets and traditional spending. This card not only enhances accessibility but also offers a more inclusive and rewarding financial future for all users.”

Wallester AS, the leading card issuing platform in Europe, issues and offers the card as a Payment Institution authorized by the Finantsinspektsioon (Estonian Financial Supervision and Resolution Authority) and an official Visa Principal Member.

Key advantages of WhiteBIT Nova card:

  • 0% Card Service: There are no fees associated with opening or closing this Visa-enabled card, nor any charges for holding it. Furthermore, no initial deposit is required for activation, allowing users to begin utilizing their debit card immediately without any upfront commitment.
  • Physical and Digital Cards: Users can choose between a digital version or a plastic card. The physical card offers additional spending limits and allows ATM withdrawals. Plastic cards can be ordered immediately, with delivery taking up to 10 business days and costing up to €10. 
  • Support for Multiple Cryptocurrencies: The WhiteBIT Nova debit card supports a wide range of digital assets, including USDC, BTC, ETH, XRP, SOL, NEAR, ADA, AVAX, WBT, and DOGE, giving users flexibility in how they spend their crypto.
  • Cashback Up to 10% for All: The card is the first to offer cashback as a standard feature to all cardholders, paid in BTC or WBT (WhiteBIT Coin). Categories include groceries (1%), food/restaurants (3%), medicine (3%), taxi (3%), pet supplies (5%), and subscriptions (10%). Users can select up to three categories and adjust them daily to maximize their rewards.
  • Invite Friends Bonuses: Users can earn 1 USDC for each friend who registers and activates the card via a link, with a maximum bonus of 50 USDC.

In addition to these features, the WhiteBIT Nova card integrates seamlessly with Apple Pay, allowing for secure and convenient contactless payments using crypto.

The debit card is available to EU residents and can be easily set up through the WhiteBIT platform. Once verified, users can immediately begin using their virtual card for purchases. The daily spending limit for the WhiteBIT Nova card is 10,000 EUR equivalent, while the monthly one is 25,000 EUR.

For more information and to apply for the WhiteBIT Nova debit card, visit the website. To manage the card, download the WhiteBIT app for your Apple or Android devices.

About WhiteBIT

WhiteBIT is one of the largest European centralized crypto exchanges founded in 2018. The exchange offers 600+ trading pairs, 300+ digital assets, and 9 state currencies. The company is an official partner of FC Barcelona, FC Trabzonspor, ESL Faceit, and VISA. The goal of WhiteBIT is the mass implementation of blockchain technology worldwide.

Top Analyst Says Cardano Can ‘Realistically’ Pump to $3 in Four Weeks: Here’s How

Albert Brown
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Top Analyst Says Cardano Can ‘Realistically’ Pump to $3 in Four Weeks: Here’s How

While Cardano (ADA) has dropped 21% over the past week, some analysts are issuing bold timelines for when ADA could reach $3.

Today, Cardano witnessed a significant decline in its market value, falling sharply from $1.30 last week to a low of $0.911 before rebounding slightly. As of writing, ADA is priced at $0.9967, reflecting a 12.36% drop in the past 24 hours and a 21.11% decline over the past seven days.

This downturn has sparked differing opinions among analysts concerning ADA’s future price direction and market sentiment.

Cardano Could Rally to $3 Anytime Soon

Prominent Cardano bull Dan Gambardello predicts a significant surge in ADA’s price, suggesting it could climb to $2 sooner than most people anticipate.

Additionally, Gambardello’s analysis suggests that ADA could “realistically” hit $3 as early as January 10, 2025, just four weeks away. The foundation of this bold forecast is the historical trend of ADA seeing a massive pump from Q4 2020 into Q1 2021.

However, he offered a more cautious timeline, noting that January 24 might be a more realistic target for ADA to reach $3, as he tends to be slightly early in his predictions.

While this outlook reflects optimism for Cardano, the challenges of the current bearish market remain.

Cardano prediction by Dan Gambardello
Cardano prediction by Dan Gambardello

Short-term Pressure on ADA Bull Run

In contrast, analyst Ali Martinez focused on ADA’s immediate hurdles to regain bullish momentum. His analysis identifies a critical support level near $1.20, where approximately 93,000 addresses collectively hold 2.54 billion ADA. This level represents a vital zone for price stability. 

Martinez cautions that a failure to hold above $1.20 could result in a deeper decline below $1. His chart notes that bearish sentiment persists, with 64.68% of ADA holders currently facing unrealized losses. This may lead to additional selling pressure during any price rebound.

Meanwhile, a demand zone between $0.98 and $1.02, involving 41,720 addresses holding 1.03 billion ADA, offers a potential safety net amid further declines.

On-Chain Data Highlights Bearish Trends

On-chain metrics further reflect a cooling momentum for Cardano, with significant declines across key activity indicators. Data from IntoTheBlock reveals that new address creation has dropped by 44.90% over the past week.

Cardano Address Activity, IntoTheBlock
Cardano Address Activity, IntoTheBlock

Additionally, active addresses have decreased by 38.66%, indicating lower transactional activity on the network. Another metric of interest is the reduction in zero-balance addresses, which has fallen by 46.15% during the same period. 

As XRP Falls, Expert Shares Positive Perspective on Decline if $1.94 Holds

Sam Wisdom Raphael
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As XRP Falls, Expert Shares Positive Perspective on Decline if $1.94 Holds

XRP still maintains its bullish momentum despite the recent drop, according to market analyst Casi.

Notably, XRP recently dropped to retest the lower end of the $2 price level, testing the patience of traders. Despite this setback, analyst Casi Trades has maintained her optimism, suggesting that the altcoin can sustain the bullish momentum if a major support level holds.

Positive Perspective Amid Crash

Casi’s initial analysis came up on Dec. 5. However, XRP has collapsed 9% since then, currently trading for $2.2. The bearish pressure comes on the back of a broader downturn, which recently liquidated nearly 584,000 traders across the market.

Interestingly, the crash also coincides with Ripple CEO Brad Garlinghouse’s interview at a 60 Minutes segment. As XRP retests the lower end of the $2 level, Casi updated her analysis to address the current downturn. 

She noted that a 0.382 retracement aligns XRP’s Fibonacci extension targets perfectly with its ATH at $3.50. However, she stressed the importance of $1.94 as a support level. If this level holds, the bullish targets remain achievable.

XRP’s crash pushed it to a bottom of $1.96 yesterday amid a 14% intraday loss. This marked the first time XRP collapsed below $2 since it reclaimed the level on Dec. 2. Despite this, XRP has since recovered. Should another drop ensue, the bears must maintain $1.94.

Initial Analysis and Additional Context

For context, Casi had initially outlined two scenarios for XRP’s price trajectory when the price traded for $2.4. The first scenario involves an ABCDE correction pattern. If this correction finds support at the 0.236 Fibonacci retracement level ($2.31), the next bullish wave could extend to $3.74. 

The analyst pointed out that this price mark would correspond to a 0.618 Fibonacci extension and potentially mark a clean break above XRP’s all-time high (ATH). Such price movement would set the stage for a test of support at higher levels.

Meanwhile, the second scenario considers a deeper correction following an ABC pattern. Here, the completion of wave C at the 0.382 retracement ($1.94–$2.04) could still create the pathway for a recovery. 

The rebound would target XRP’s ATH of $3.50. Breaking this resistance and confirming it as support would likely re-ignite the bullish momentum. Notably, the range between $3.50 and $3.74 remains a critical pivot zone, where the market will define future trends.

XRP 1H Chart

Interestingly, the 1-hour chart from Casi confirms these technical commentaries. According to data, recent XRP price action formed a descending structure, signaling that the ongoing correction could see an end soon. 

XRP 1H Chart Casi Trades
XRP 1H Chart | Casi Trades

Major levels of support include the 0.236 retracement at $2.31 and the broader range near the 0.382 level between $1.94 and $2.04. Further, the RSI indicator shows bullish divergence, as price continues to dip while RSI rises, hinting at buying pressure returning.

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