XRP, despite recent price fluctuations and a brief rejection, continues to exhibit a robust bullish bias, holding steadfastly above the critical $1.30 support level. This resilience suggests that current market activity represents a consolidation phase, preparing for further upward movement rather than signaling a deeper reversal.
Multi-Year Breakout Fuels Next Expansion Wave
According to Crypto Patel's analysis, XRP has successfully navigated a multi-year breakout zone on higher-timeframe charts, emerging from an extended accumulation period. This monumental breakout, which ignited a rally exceeding 600% from the $0.60 mark, has firmly reinforced the broader bullish trend and established a new long-term market structure. The current price action is seen as building the foundation for the next significant upward leg. A key demand region and fair value gap between $1.90 and $1.30 are currently being respected. As long as XRP maintains its position above the $1.30 threshold, the higher-timeframe bullish structure is preserved, paving the way for ambitious long-term targets of $3.50, $5.00, $8.70, and potentially over $10. A sustained close below $1.30 would be the only factor to invalidate this optimistic outlook.
Technical Resilience Amidst Market Fluctuations
While XRP experienced a rejection near the $2.37 psychological level, Umair Crypto highlights that the broader trendline structure remains intact. A sharp pullback was triggered by a Relative Strength Index (RSI) breakdown and the loss of the Point of Control (POC), but crucially, this decline lacked definitive structural failure, indicating a corrective move rather than a trend reversal. XRP also demonstrated notable relative strength during a market downturn led by Ethereum, quickly rebounding from a sell-off and outperforming many ETH-beta assets. This suggests a strategic rotation of capital towards assets demonstrating greater strength, rather than a widespread market distribution. The constructive bias for XRP is maintained as long as the underlying trendline endures and the price reclaims its position above the range POC; persistent trading below this level would necessitate a reevaluation of the bullish setup and potential downside.
