XRP is showing activity in the market, and analysts are pointing to a crucial support level as a potential catalyst for the next rally.
Technical Analysis of XRP
Analysts, including Casitrades, highlight the $2.235 level as key for XRP's further movement. This level may mark the end of the current pullback and initiate a powerful upward move.
Ripple's Bank Charter Application
Ripple's application for a bank charter in the U.S. has also significantly impacted the market, contributing to an increase in XRP's price and breaking the $2.25 resistance level for the second time in just weeks.
Forecasts and Future Goals
If the $2.235 level holds, Casitrades projects that XRP could continue moving towards the target of $2.69. This target is backed by wave theory and aligns with historical resistance levels.
XRP's analysis indicates that the asset is garnering attention due to its fundamentals and technical structure. The support level at $2.235 now stands as critical for future price movements.
