Ripple’s (XRP) recent uptick has pushed its weekly gains to almost 10%, with the token trading at $2.45. Despite this, data suggests that the asset is in “a moment of tension rather than confirmation.”
Its fate now hinges on the $2.41 backtest.
Crucial Fibonacci Level
In a recent market update, CasiTrades warned traders against chasing breakouts and highlighted the need to wait for a backtest of support before entering positions. According to the crypto analyst, an important level to watch is $2.41 on Coinbase, which represents critical Fibonacci support. A reaction in this zone could determine XRP’s next major move. While a short-term bounce toward $2.50 is possible, the analyst noted it remains uncertain whether such a move would sustain or lead to further downside.
If the $2.41 level fails to hold, the macro 0.5 Fibonacci retracement near $2 will come into play as the next logical target. This zone fits within the broader correction pattern the analyst has been tracking. Mea
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