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\n\t\t\t\t\t\t\t\t\tXRP’s test of the macro 0.5 Fib at $2.03 may point to a final low.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Ripple\u2019s (XRP) climbed above $2.12 on Thursday after briefly plunging to $2.03, the latter being a critical support zone as outlined by analyst CasiTrades, who notes that recent choppy price action before the subsequent modest recovery has not altered the broader outlook for the asset.<\/p>\n
According to the analysis, XRP\u2019s latest climb was expected near the anticipated subwave 3 low.<\/p>\n
The asset also met its RSI support trendline, which indicated conditions for a possible short-term bounce, and that a move back to $2.26 is still possible. Despite the volatility, the analyst stated that such chop is typical of overlapping Wave 4 structures, and the focus remains on the larger trend.<\/p>\n
XRP hovers above the macro 0.5 Fibonacci support at $2.03, which is being described as one of the most significant levels in the ongoing correction. CasiTrades stated<\/a> that $2.03 could serve as the final low of the entire wave 2 correction, especially if Bitcoin simultaneously reaches its own support at $88,000, thereby creating a strong confluence for a potential macro bottom and the beginning of a larger Wave 3 that could push XRP to new all-time highs.<\/p>\n However, the analysis also outlines an alternate scenario where the altcoin breaks below $2.03 and extends its decline to the macro 0.618 level at $1.65. In that case, the analyst expects a bounce near $1.84, followed by a move back to $2.00 to retest it as resistance before a final drop toward $1.65.<\/p>\n Under this deeper correction path, Bitcoin would likely continue downward toward its macro 0.382 retracement at $80,000. Despite these possibilities, the analyst maintains that the broader structure remains intact and that a macro Wave 3 for XRP could realistically begin within the month.<\/p>\n On the institutional side of things, Bitwise Asset Management has confirmed that its new spot exchange-traded fund (ETF) tracking XRP will launch on Thursday under the ticker \u201cXRP.\u201d The fund is scheduled to begin trading on the New York Stock Exchange.<\/p>\n This follows Canary Capital\u2019s XRPC ETF, which launched on November 13 and attracted<\/a> almost $250 million in inflows on its opening day. Despite the strong start, XRPC\u2019s momentum slowed<\/a> this week as it managed to bring its total net inflow to just over $292 million, according to SoSoValue.<\/p>\n Meanwhile, Franklin Templeton\u2019s EZRP also entered the market on November 18, further adding to the growing list of XRP-focused funds. Additional products from 21Shares and CoinShares are expected to debut later this week.<\/p>\nXRP ETF Lineup Expands<\/h2>\n
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