Ripple's native token XRP slid below $1.35 after failing to break resistance between $1.51 and $1.53, following broader market sell-offs. Despite the pullback, technical analysts suggest that the asset retains its long-term bullish structure unless macro support levels fail.
Macro Indicators Keep $1.20 as the Line in the Sand
Analyst EGRAG CRYPTO emphasized that XRP could drop to $1.20 without invalidating its broader bull market trajectory. His analysis on the monthly timeframe monitors the relationship between the 33 EMA and 111 EMA, historical indicators used to define cycle structures.
As long as XRP maintains a monthly close above $1.20, EGRAG believes the macro setup remains valid. Should the token recover from its sub-$1.35 low, the analyst marked $1.65 as the initial reclaiming target. If momentum builds, his model outlines potential upside targets between $4.00 and $8.00, alongside an extreme "Valhalla" scenario extending beyond $15.
This technical resilience comes as Ethereum, XRP, and major altcoins retrace across the crypto sector.
Short-Term Chart Patterns Target $2.00 Breakout
On shorter timeframes, analyst Bird (@Bird_XRPL) identified a repeating pattern on the four-hour chart featuring three descending resistance trendlines. Previous setups resolved with upward breaks after XRP found solid support along a long-term ascending trendline.
- Key Support Zone: $1.30 to $1.34 demand range
- Immediate Resistance: $1.52 to $1.56 overhead zone
- Upside Target: $2.00 upon a confirmed breakout
Market analyst Celal Kucuker supported Bird's setup, stating that $2.00 remains within reach by the end of the month following the recent bounce off support. The technical setup develops alongside broader developments in the ecosystem, including recent activations to expand institutional infrastructure on the XRP Ledger.
Why It Matters
The technical focus on $1.20 highlights how traders are balancing short-term downside volatility against multi-month trendlines. If XRP holds its key exponential moving averages, the current consolidation may form the base for higher targets like $2.00 or $4.00. Conversely, a monthly close under $1.20 would signal a structural breakdown, forcing analysts to recalibrate long-term cycle models.
