CasiTrades sees XRP approaching key $1.65 resistance, eyes $1.70 or swift drop

Compression near resistance and Fibonacci levels

Renowned crypto analyst CasiTrades has produced an in-depth technical analysis, identifying two distinct scenarios for XRP’s short-term trajectory. The four-hour chart reveals a tight consolidation pattern just beneath the $1.65 barrier, which has defined the macro structure for several months. This pattern, developing over roughly two weeks, appears to be approaching its apex, suggesting a breakout may be imminent.

The $1.65 level matches the .618 Fibonacci retracement on the broader timeframe, a zone CasiTrades describes as vital in determining the longer-term trend. She also highlights that the Relative Strength Index (RSI) is forming a contracting triangle pattern, mirroring the price compression and reflecting fading market momentum since the September rally. With the RSI at 52.89 and 52.45, the indicator remains in neutral territory and lacks a clear directional signal.

CasiTrades points out, “Once this squeeze is resolved, I’m watching for either a push toward the $1.70 region or a decisive rejection, both of which will define the next phase for XRP. Consolidation has reached a critical stage, and the reaction will set the tone.”

Mini dictionary: Fibonacci retracement, a technical analysis tool, plots potential support and resistance levels using horizontal lines based on the mathematical relationships within the Fibonacci sequence, helping traders identify likely points for price reversals.

Potential breakout or correction?

CasiTrades outlines two possible outcomes. If bullish momentum wins out, she anticipates XRP could attempt one final push toward $1.70, aligning with its August peak. She has marked $1.7052 as the .618 Fibonacci extension and $1.6568 as the .5 level to monitor within this resistance zone.

In the event that XRP fails to break above $1.65, the analyst does not rule out a swift transition into a corrective Wave 2. She notes that XRP “has a habit of failing its final fifth waves and heading straight into correction,” meaning a new high is not necessarily required to complete the current wave structure.

Regardless of which path emerges, CasiTrades states her approach remains unchanged, as the current structure is running out of space and a major move appears to be drawing closer.

Wave 2 support and the risk of a reset

Should a correction begin, CasiTrades is monitoring $1.27 (the .618 retracement) and $1.10 (the .854 retracement) as critical supports to maintain a bullish bias. She warns that Wave 2 could unfold as an “aggressive and fast” move, with a drop toward $0.90 threatening to invalidate the larger bullish structure.

The analyst highlights that, as long as the price holds above either $1.27 or $1.10 during a potential pullback, XRP’s broader upward structure remains intact.

Upside breakout could trigger long-term targets

CasiTrades also discusses the scenario in which XRP breaks strongly above $1.65 and sustains momentum past $1.80, viewing this as confirmation of significant strength. In this case, she continues tracking longer-term targets ranging from $10 to $16, contingent on developing subwave structures.

CasiTrades, known for her technical analysis and presence on social media, urges traders to closely follow current price activity as critical events unfold.