The post XRP Price Could Drop to $2.03, Before Bull Run Begins, Says Top Trader appeared first on Coinpedia Fintech News
Following the launch of the spot XRP ETF, many people thought the XRP price would break its ATH. But that didn’t happen. Instead, the price has been dropping drastically, now trading around $2.10.
Making traders confused about what is coming next for XRP?
However, veteran trader CasiTrades says the market is actually giving a clear message, and it’s pointing to a very crucial level, i.e, $2.03.
Let’s see what it is.
Why XRP’s $2.03 Level Matters the Most?
According to CasiTrades analysis, XRP is still following a large structure that has been building for months. In this structure, the price is slowly moving down toward a key support level at $2.03.
Meanwhile, Casi believes this level is very important because it matches the 0.5 Fibonacci support area, a zone where prices often bounce strongly in healthy markets.
She also says the move down will not be a straight fall. Instead, the price will move in a zig-zag pattern, with ups and downs along the way. According to her, this is normal behavior for this stage of the market.
For now, CasiTrades says the only way this idea becomes invalid is if XRP breaks above $2.41. If XRP stays below $2.41, then the chart still points toward a final drop to $2.03.
What If XRP Falls Even Lower? The $1.65 Surprise
Many traders fear that XRP might drop even more, but CasiTrades says there is nothing to fear about the next key level, $1.65. This level is the 0.618 Fibonacci, which he says is actually common for this kind of market move.
According to her, a dip to $1.65 is not bearish, it’s an opportunity. She says this entire price range is a chance for smart traders to quietly accumulate.
Many people wait for big breakouts, but she reminds everyone that the best buying moments usually appear before the big move happens, not after it.
5 more XRP ETFs to go live
After Canary Capital and Franklin Templeton launched their XRP ETFs, another five ETFs are now lined up for approval in November. Many market watchers believe these new funds will bring fresh buyers, increase demand, and help push XRP’s price upward.
Experts say that if demand continues to rise, XRP could move closer to its all-time high of $3.80, and possibly even break above it to form a new record.
As of now, XRP is trading near $2.10, showing a small dip in the past 24 hours. Its market cap is holding around $129 billion.