XRP/USDT – Daily Technical Analysis

XRP is showing early signs of a relief bounce after completing a full corrective move within a clearly defined descending channel. Price recently swept liquidity near the 1.77–1.80 demand zone and reacted strongly from this support.

Structure & Trend
The broader market structure remains bearish, with consistent lower highs and lower lows inside the descending channel. The current move appears to be a counter-trend bounce rather than a confirmed trend reversal.

Key Levels (Fibonacci Retracement)
0.618 at 2.01 is the immediate support. Holding above this level keeps the bounce intact.
0.5 at 2.09 and 0.382 at 2.17 act as intermediate resistance levels.
0.236 at 2.26 is a strong resistance zone.
The 2.40–2.42 region is a major resistance and previous rejection area, aligning with channel resistance.

EMA Structure
Short-term EMAs have started to curl upward, indicating improving momentum. Price needs to stay above these EMAs to maintain bullish continuation.

Bullish Scenario
If price holds above 2.00–2.05 and breaks above 2.26, XRP can extend toward the 2.40–2.42 resistance zone. A daily close above the descending channel would indicate a potential trend shift.

Bearish / Risk Scenario
Failure to hold above 2.00 could lead to a pullback toward 1.90–1.80. A breakdown below 1.77 would invalidate the bounce and resume the broader downtrend.

Summary
XRP is at a critical reaction zone. Momentum has improved after a strong support bounce, but confirmation only comes above 2.40. Until then, price action remains corrective within a larger downtrend.

If you like this idea, please hit the like button and share your views in the comments section.

Thank you

#XRP #XRPArmy #XRPCommunity