- XRP/ETH drops after a 250% surge, testing key Fibonacci levels as traders assess the next potential move.
- Ethereum gains short-term strength while XRP eyes $1.60-$1.80 support before a potential bullish rebound.
- Market watches XRP consolidation at critical levels, anticipating a breakout once the correction stabilizes.
The XRP/ETH trading pair has seen a significant shift following a strong rally. A short-term correction is developing as market dynamics adjust to key resistance and support levels.
Market Momentum and Key Levels
XRP/ETH surged over 250% before encountering resistance near its range highs. A correction is now unfolding as price action stabilizes. Fibonacci retracement levels indicate possible support zones that may influence the next movement.
Recent activity indicates an intermediate bear trend within an overall bull environment. Correction based on estimated technical levels implies that Ethereum has potential outperformance versus XRP over the near term. Overall long-term positioning, however, remains constructive and is poised to restart an upside trend after a bout of consolidation.
XRP/ETH Pullback and Key Support Levels
A detailed breakdown from market analyst CrediBULL Crypto highlights critical technical factors influencing XRP/ETH. The analyst previously noted that a pullback was possible after the extended rally, and this scenario is now playing out. Weekly bearish divergences have emerged, reinforcing the expectation of a deeper correction before the next impulse move.
Source: CrediBULL Crypto
According to the analyst, XRP may revisit support levels between $1.60 and $1.80. Meanwhile, Ethereum is positioned within a strong high-timeframe demand zone. This confluence suggests that XRP/ETH could experience further downside pressure before stabilizing. The correction is viewed as a healthy retracement within the broader uptrend.
Technical Indicators and Outlook
CrediBULL’s analysis shows XRP/ETH trading near a crucial support level. The 50% Fibonacci retracement sits around 0.0010134 ETH, while the 100% retracement aligns with 0.00087875 ETH. These levels are expected to act as critical pivot zones in the coming sessions.
Market sentiment remains bullish despite short-term corrections. The strong accumulation base at lower levels supports the possibility of another breakout. If XRP holds key supports and consolidates effectively, a new upward impulse could follow.
Traders are closely monitoring Ethereum’s demand zone and XRP’s structural support. The interplay between these assets will determine the next significant move in the XRP/ETH trading pair.
