Peter Smith
XRP holds steady at crucial $2.83 Fibonacci level, setting up potential rally toward $5.16 if bulls can maintain control.
XRP (XRP) Price Battles at Critical $2.83 Support Zone
XRP is trading at $2.86, down 3.36% today, but it's holding onto something important - the 0.382 Fibonacci retracement level around $2.83. This isn't just any random number; traders have been watching this zone like hawks because it could make or break XRP's next big move.
The price dipped to $2.81 earlier but bounced back, showing there's still some fight left in the bulls. That quick recovery above $2.83 has caught analysts' attention, especially since this level has been acting as a major decision point for weeks.
LeandroCrypto recently posted on X about this exact setup, calling it XRP's moment of truth. The chart he shared shows how this Fibonacci level could be the springboard for something much bigger - potentially pushing XRP all the way to $5.16.
XRP (XRP) Price Could Double if Bulls Stay Strong
Here's where things get interesting. If XRP can stay above that $2.83 sweet spot, we're looking at a possible run to $5.16 - that's nearly double from where it sits now. The technical setup looks pretty solid too, with an ascending trendline providing backup support and trading volume holding steady at 102.29M.
The key levels traders are watching:
- Current spot: $2.86
- Make-or-break support: $2.83
- First trouble zone: $2.62
- Deeper support: $2.43
- Moon target: $5.16
Right now, it's all about whether buyers can keep XRP above that $2.83 line in the sand. If they can't, we might see a slide toward $2.62 or even lower. But if they hold strong, XRP could be gearing up for its next big rally.
The volume and price action suggest traders are positioning for a breakout. Whether that happens in the next few days or weeks depends on how well the bulls can defend this crucial Fibonacci zone.
Peter Smith
