- XRP rebounded at $2.01 support with bullish divergence forming on lower timeframes as momentum builds within the descending channel.
- Despite the bounce, XRP must reclaim $3.00 to validate a macro reversal while support zones at $1.90 and $1.55 remain critical.
- Volume spikes and RSI trendlines signal growing institutional activity near accumulation zones as price stabilizes from a prolonged correction.
As geopolitical tensions increased after U.S. attacks on Iranian nuclear facilities, XRP reached its crucial $2.01 support level, according to analyst CasiTrades. XRP is now down 0.99% at $0.0841. A rebound from Fibonacci levels has confirmed that this action is compatible with a long-awaited consolidation slump. Momentum indications point to a possible short-term reversal. However, traders are cautious in the absence of evidence from longer timeframes.
Source: CasiTrades
Technical Outlook: Fibonacci Levels and RSI Trends
The price formed a descending channel, with support and resistance lines guiding recent action. XRP had previously peaked near $2.5000 before entering a prolonged corrective phase. Key Fibonacci retracement levels now dominate the chart. The 0.618 zone at $1.9924–$1.9802 provides strong support. Meanwhile, the 0.5 level at $2.1363 presents major resistance ahead. These zones coincide with past consolidation points; hence they are important.
Besides, the RSI on the 15-minute and 1-hour charts reveals bullish divergence. This setup suggests possible upward momentum is forming. On the 1-hour chart, a trendline begins to take shape, offering a tool to track further movement. However, RSI currently reads 43.15, which indicates weak but stabilizing sentiment. Moreover, overbought levels previously seen above 80.00 have sharply corrected. This mirrors the larger downward trend still in play.
Market Structure and Volume Behavior
Volume spikes confirm major reaction zones. These bursts of activity highlight institutional interest, especially near key support levels. Additionally, green highlighted areas show where accumulation might be underway. These zones often precede strong reversals in historical patterns.
However, XRP reclaiming $3.00 confirms a longer-term reversal. Until then, lower supports at $1.90 and $1.55 remain active. Momentum continues to build within the descending channel. Hence, traders monitor closely for breakout or breakdown confirmation.
