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XRP XRP is trading around $1.40, with the next revised resistance at $2-$3
XRP is currently trading at around $1.40, having experienced a lengthy decline from an all-time high of $3.65. The latest price movements both highlight continued selling pressure and draw the attention of market commentators who are monitoring for potential signs of recovery.
Technical Overview
On Binance's weekly chart, XRP prices showed a significant correction from previous highs. The recent consolidation area is near a key support band, which analysts define as between approximately US$0.80 and US$1. This area represents structural support and has absorbed a lot of selling pressure in previous stages.
Cryptocurrency analyst Xaif (@Xaif_Crypto) pointed out that XRP appears to be "trying to bottom around $1.40." He emphasized that the area could play a key role in future price movements, especially as traders pay close attention to signs of regaining momentum.
According to Xaif, after undergoing a sharp correction, XRP is trying to establish a base around $1.40. If buyers regain control, the next important area of resistance will be in the $2.00 to $3.00 range.
From a technical perspective, XRP is currently hovering above the orange moving average on its weekly time frame. During consolidation periods, this is usually seen as a positive signal because maintaining prices above the moving average provides a platform for a rebound.
Key Chart Signals
Indicators such as the Weekly Momentum Pyramid System and LuxAlgo's Order Block Detector currently show that XRP is in stage 0 near its current value. This stage heralds a potential early stage of the new momentum cycle.
Above current levels, the red resistance band in the chart stretches from about $2 to $3.60. The region includes the $2 to $3 range that has previously hindered bulls. According to Xaif's analysis, as long as the foundation of $1.40 is solid, breaking through these resistance levels could signal a major shift in market sentiment.
Dictionary of Terms
LuxAlgo Order Block Detector: A technical analysis tool designed to identify key order block areas in price charts and help traders identify areas where price reversals or high liquidity are likely to occur.
Correction and recovery prospects
XRP's recent revision erased most of the gains it gained after climbing from multi-year lows above $3. The rise has lasted for several months, and the token's current weekly closing candle chart is stable at around $1.40, reflecting a continued downward trend.
Despite the correction, XRP prices are still well above the important green support band. In past cycles, the region has consistently attracted new buying interest, which is clearly visible in early chart history.
Xaif believes that the recovery potential of XRP depends on two conditions: holding the base of US$1.40 and breaking through the resistance level of US$2 to US$3. The chart pattern suggests that this resistance area may be tested multiple times rather than being breached immediately.
Wave patterns within the resistance zone suggest that prices may fluctuate multiple times before any decisive movement beyond $3 occurs. XRP's performance in the coming weeks will likely determine whether the current fundamentals support another recovery movement, or whether price movements weaken further to lower levels of support.
