\n
<\/p>\n
\n\t\t\t\t\t\t\t\t\tXRP’s weekend price moves show no clear direction. All eyes are now on the $2.41 level.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Ripple\u2019s (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 \u201ca moment of tension rather than confirmation.\u201d<\/p>\n
Its fate now hinges on the $2.41 backtest.<\/p>\n
In a recent market update, CasiTrades warned<\/a> 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\u2019s 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.<\/p>\n 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. Measuring the subwaves, the structure still points toward a potential test of that $2 support before any major recovery.<\/p>\n The outlook is also influenced by Bitcoin\u2019s price action, as it has yet to break its key resistance levels. CasiTrades observed that Bitcoin remains vulnerable to a pullback toward $97,000 or even $94,000, with invalidation only occurring if it closes above $107,000 on the 4-hour chart, a level it briefly tested but was quickly rejected from.<\/p>\n Overall, the analyst described the market as being in a \u201cmoment of tension rather than confirmation,\u201d with clear invalidation points and a defined structure. The reaction around $2.41 will likely dictate whether XRP resumes its upward continuation or falls to retest its macro support near $2.<\/p>\n In a statement to CryptoPotato<\/em>, Alexis Sirkia, Chairman of Ripple-backed Yellow Network, said XRP\u2019s recent price rise is mainly due to growing expectations for the launch of spot XRP exchange-traded funds (ETFs). Several issuers have updated their filings with the US Securities and Exchange Commission (SEC), while the DTCC has listed<\/a> up to nine possible XRP tickers. Investors are positioning early, expecting strong retail and institutional inflows once the ETFs go live, possibly around November 13.<\/p>\n Sirkia also pointed to Ripple\u2019s $500 million investment and $40 billion valuation as signs of growing confidence in the XRP ecosystem. He said that major financial players like Citadel and Fortress investing in Ripple show a strong belief in the XRP Ledger\u2019s utility. According to Sirkia, XRP\u2019s next big move will likely depend on these long-term structural developments rather than short-term market sentiment.<\/p>\nStructural Factors, Not Short-Term Sentiment<\/h2>\n
You may also like:<\/h3>\n
\nSECRET PARTNERSHIP BONUS for CryptoPotato readers: Use this link<\/a> to register and unlock $1,500 in exclusive BingX Exchange rewards (limited time offer).<\/b><\/div>\n<\/div>\n