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XRP XRP is trading around $1.40, and analysts point out where the main resistance level will be if bulls regain momentum.
XRP is currently trading at around $1.40 after a long correction from a record high of $3.65. Weekly charts show a significant retreat in its upward momentum. However, the current price trend has attracted the attention of cryptocurrency commentator Xaif (@Xaif_Crypto), who believes there are potential opportunities for reversal. He pointed out that XRP is "trying to build a bottom base around $1.40."
Technical Form Analysis: Bottom Construction and Key Support
Bottom construction at this level has significant technical significance. Prices have compressed around the key support area visible on the chart, marked by a prominent green Order Block area, roughly between $0.80 and $1.00. The region is well below current prices, indicating that XRP still has structural support until more critical lows are hit.
Binance's weekly chart (based on the "Weekly Momentum Pyramid System" and LuxAlgo's Order Block Detection Tools display) shows that XRP is currently in "stage 0" close to the current price. This marks the earliest stage of the potential momentum cycle.
The red resistance zone on the chart spans approximately $2.00 to $3.60. This area represents the previous position where sellers dominated buyers. Xaif pointed out that if the bulls regain control of the situation,$2.00-$3.00 will be the next major resistance area.
Currently, XRP is trading above the orange moving average, which is a positive signal during the consolidation phase. A sustained stay above this moving average will provide support for the recovery.
Market dynamics revealed by pullbacks
XRP rallied rapidly from multi-year lows and broke above $3.00 before reversing. The correction lasted several months and wiped out much of the gains. At a closing price of $1.4044, the weekly K-line reflects continued selling pressure.
Despite the price decline, current prices are still well above the green support zone around $0.80-$1.00. This area has been in effect during the previous consolidation period shown on the left side of the chart and represents the level of buyer re-entry historically.
Recovery potential and future outlook
Xaif directly raises the question: "Is XRP preparing for the next major recovery?" His analysis was based on two conditions: first, prices held the bottom at $1.40; second, bulls regained momentum, pushing prices beyond the $2.00-$3.00 resistance range.
The wavy markings in the red area on the chart depict the expected shock pattern before a sustained breakthrough. This suggests that the upward path is non-linear and resistance levels may be tested multiple times before prices establish a position above $3.00. XRP's close in the next few weeks will determine whether the bottom is firm or whether the correction deepens towards lower support levels.
