XRP Drops 52% Across 5 Red Monthly Candles as $1.20 Support Zone Comes Into Play

2026-03-07 07:31:40

XRP has been under sustained pressure for months, and the latest price action is bringing one of its most important technical zones into focus. After printing five consecutive red monthly candles, a streak not seen in nine years, the asset has shed roughly 52% from its highs. Now trading around $1.36, XRP is drifting toward a broad demand zone near $1.20 that analysts are watching closely for signs of stabilization and a potential directional shift.

Descending Trendline and $1.61 Resistance Define the Range

The chart structure tells a clear story. A descending diagonal resistance trendline has capped every recovery attempt since mid-2025, confirming that sellers have been consistently active on bounces.

During the broader correction, price retraced and swept multiple wick levels, including liquidity left behind during the sharp October 10 market crash XRP had previously found footing at $1.11 and $0.87 before the current leg lower, and the current structure reflects how much ground has been lost since those levels XRP had also tested resistance near $2.18 before momentum shifted, underlining the scale of the pullback.

$1.20 to $1.61 Range Could Determine the Next Big Move

The level to watch on the upside is $1.61, which stands as the first meaningful resistance in the current structure. According to analysis highlighted by TraderJB, clearing that level alongside a break above the descending trendline would open the door to a more constructive outlook A prior symmetrical triangle breakout setup also pointed to this kind of compression before a directional move. The invalidation side is just as well defined: a decisive break below $1.20 would suggest bearish momentum is still in control.

After months of decline and repeated liquidity sweeps, XRP is now compressed between a firm support floor and a descending ceiling. Extended consolidations like this have historically preceded sharp directional moves in XRP market cycles. Whether the asset transitions toward recovery or extends its corrective phase, the $1.20 to $1.61 range is where the answer is likely to form.

XRP-0,51%

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