XRP has rebounded from $1.09 to trade above $1.12, drawing attention from technical analyst CasiTrades who identifies the area as the market's closest battleground. The $1.09 level corresponds to the 0.786 Fibonacci retracement, often considered a last line of defense where reversals can emerge. The subsequent bounce above $1.12 has raised expectations that a short-term local bottom may be in place.
$1.12: Overlap with 0.5 Fibonacci and the First Hurdle
According to CasiTrades, the $1.12 level also coincides with the 0.5 Fibonacci retracement. If bulls can defend this support, the recovery could gain momentum, with $1.25 as the next major resistance. The analyst stresses that maintaining $1.12 is crucial for a sustained bounce, but the $1.25 zone will likely determine XRP's next directional bias.
From an Elliott Wave perspective, $1.25 marks the upper boundary of a potential fourth-wave recovery. A clean break above this level would signal renewed bullish momentum and suggest that the broader correction may have bottomed. Conversely, failure to decisively surpass $1.25 could indicate the current move is merely a temporary reaction within a larger downtrend. For bullish strength to build, XRP must first hold $1.12, then reclaim $1.25 firmly. A surge above $1.30 would reinforce the recovery, while a push toward $1.65 would nearly eliminate the risk of another steep decline.
Downside Scenarios: $1.09 and $0.90 in Focus
If sellers regain control near $1.25, a renewed downturn is possible. CasiTrades warns that a reversal from that area could drive XRP back to test support at $1.09. Should that level fail, the price could fall as low as $0.90. Such a move might complete a larger second-wave correction, after which a more sustainable recovery could begin. As a result, how XRP behaves between $1.12 and $1.25 in the near term will be closely watched — it will reveal whether the recent bounce is a genuine bottom or just a fleeting rally.
Since 2014, XRP has been the only digital asset besides Bitcoin to consistently rank in the top 10 by market capitalization. This enduring presence underscores its continued relevance in the crypto market, even amid current price uncertainty.