Despite Market Pullback, XRP Holds Key Support Zone and Maintains Bullish Outlook
XRP slipped 4% in the past 24 hours amid a broader Bitcoin-led market correction, but the altcoin’s technical setup suggests a potential rally toward the $5 mark remains in play.
At press time, XRP trades near $2.80, after testing a crucial support zone between $2.70 and $2.85 (highlighted in green on the chart). This region has historically acted as a strong demand area following XRP’s breakout from its earlier descending channel in June, which preceded the sharp rally toward $3.80.
The recent pullback comes after repeated rejections from the $3.20, $3.45, and $3.70 resistance zones (marked in red). Despite the correction, price action continues to form a textbook cup-and-handle pattern, a bullish continuation setup that often precedes significant upside moves.
If XRP maintains support above $2.70, analysts expect a potential rebound toward the $3.20 neckline. A confirmed breakout above that level could trigger an extended rally toward $5, representing a near 80% upside from current prices.
According to BITX market analysts :
“The structure remains bullish as long as XRP holds the green demand zone. The cup-and-handle pattern is intact, and a breakout above $3.20 could open the door to $4.50–$5 targets.”
Volume activity also supports this thesis, as the recent decline occurred on lower trading volume, signaling a lack of aggressive selling pressure compared to the prior breakout.
Failure to hold $2.70 support could see XRP sliding toward $2.40 or even $2.10, delaying the bullish outlook. However, with Bitcoin stabilizing and altcoin momentum likely to return, XRP appears well-positioned for another leg higher in the coming weeks.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.