XRP trades near $2.17, revisiting a key support zone seen before past rallies. Analysts watch for a breakout or further downside.
Ripple’s XRP is trading near $2.17 at press time, following a weekly drop of over 13%. Despite recent selling pressure, the asset has returned to a zone that previously triggered a strong rally.
Analysts are watching to see if the current structure could support another major move.
Testing a Familiar Zone
A chart shared by ChartNerd shows XRP touching the mid-regression band of the Growth Curve (GC). This same level acted as a base before the July 2024 breakout. The price now sits between $2.00 and $2.20—roughly the same range where the last rally began.
Notably, the chart outlines a possible repeat of that setup, showing a grey box that matches the prior consolidation. Long wicks on recent candles may suggest buyers are stepping in near the lower end of the range. ChartNerd commented that this zone “could be our foundational base,” but price stability is still needed.
Source: ChartNerd/X
Moreover, analyst EtherNasyonaL posted a monthly chart showing XRP trading within a clear range. The support level is marked around $1.99, and resistance sits near $3.31. The structure has held for several months, with the price continuing to move sideways.
The analyst described this as a re-accumulation phase. The setup remains valid as long as the asset stays between these levels.
“Unless the structure is broken,” they said, “this silence will trigger a new leg.”
A break above $3.31 would mark a shift in trend, while a drop below $1.99 could reset expectations.
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Short-Term Charts Show Uncertainty
CryptoWZRD posted a bearish daily outlook, noting that both XRP and XRPBTC closed weak. The next resistance is at $2.75, with $2.00 acting as key support. A breakout above the daily high may open the way toward $3.65, but for now, the chart leans bearish.
On shorter timeframes, the price action has been choppy. A decisive drop below $2.30 may trigger a short setup, while a move above $2.55 could lead to upside. The analyst added that they are “waiting for a more mature chart formation” to take action.
On-Chain Activity and Wallet Growth
CryptoQuant market technician CryptoOnchain reported that large XRP holders have been sending coins to exchanges. This move is often linked with profit-taking or exits, especially during price jumps. The analyst described it as a classic “sell the news” setup.
Despite the pullback, 21,595 new XRP wallets were created in just two days—the largest spike in eight months, as CryptoPotato reported.
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