XRP has been caught in a tight range, leaving traders wondering if the next move will be a breakout or another leg down. Looking at past price action, EGRAG CRYPTO points out that long-term holders who bought XRP below $1 in previous dips were the ones who benefited the most.
Back in July 2023, XRP surged 230%, but not before going through two major pullbacks of 54.65% and 59.73%.
If history repeats itself, we could be looking at another big buying opportunity. Applying those same percentage drops to the recent $3.40 high, XRP could revisit levels around $1.54 or even $1.37.
While there’s no guarantee, traders watching historical cycles see these as important accumulation zones.
Is XRP Gearing Up for a Breakout?
Right now, XRP is hovering between Fib 0.5 at $2.45 and Fib 0.382 at $2.27, meaning it’s stuck in a consolidation phase.
If it can push above the 21-day EMA at $2.70, it could gain momentum. The real test, however, lies at Fib 0.702 at $2.80—a breakout above this level would confirm that bulls are back in control.
On the flip side, XRP’s bigger range is between $2.06 and $2.65, so if it struggles to hold support, we could see further downside.
That said, even if XRP dips below $1.77, it doesn’t necessarily mean the bull trend is over. If history tells us anything, quick recoveries have happened before.
What’s Happening With XRP Now?
XRP is currently trading at $2.39, down 1.53% over the past 24 hours. Despite holding its spot as the fourth-largest cryptocurrency with a $138 billion market cap, the momentum still favors sellers.
The 50-day EMA at $2.55 is acting as a ceiling, keeping price movement restricted. There’s also a descending trendline around $2.50, which XRP has struggled to break.
To make matters worse, the “three black crows” candlestick pattern on the 4-hour chart suggests that bearish momentum is still in play.
If XRP can hold $2.25, we might see another attempt at recovery. However, if that level gives way, $2.01 and $1.76 become the next downside targets.
On the upside, reclaiming $2.50 would be the first step toward a rebound, with $2.71 and $2.91 as key resistance levels.
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