Foreign media reports that XRP is entering a crucial pullback phase after breaking out of its multi-year consolidation pattern. A commentary citing analyst EGRAG CRYPTO states that whether it can hold key support levels and reclaim several resistance levels will determine whether this upward trend continues.
$0.85 to $0.88 becomes a key support level
The article argues that the most closely watched support zone is between $0.85 and $0.88. This area coincides with the lower edge of the previous symmetrical triangle, the 111-month exponential moving average, and the pullback point after the breakout, thus making it a crucial area to observe in the short to medium term.
Analysts say that if the price briefly falls below this range, it may not immediately disrupt the overall structure; however, if the monthly chart continues to close below this range, the long-term upside potential for XRP will be significantly weakened.
The next hurdle is between $1.23 and $1.65.
Beyond the support level, the article identifies $1.23 to $1.65 as the next major resistance zone. Analysts believe that if XRP can regain its position above this range, it would indicate that the previous correction may have ended, and market momentum is expected to recover.
According to the given path, the market first needs to hold the $0.85 to $0.88 level, then recover $1.23, and further break through $1.65. If these levels are broken in succession, XRP may continue to test the $3.00 to $3.50 range.
Based on this, the article mentions a short-term target of $6.40. Only if it can subsequently stabilize above the previous historical high will analysts propose a longer-term target of $30.
Reduced selling pressure from whales and increased institutional buying attract attention.
In addition to technical indicators, the report also mentioned several market signals considered positive. One was that whale selling pressure had eased, meaning that some of the selling pressure that had previously suppressed prices was decreasing.
Secondly, usage data for XRP Ledger continues to grow. The article states that over 1.4 million transactions related to AI agents have been completed on XRPL, indicating its expanding use in automated payments and machine-to-machine finance scenarios.
Thirdly, there's the movement of institutional funds. The report cites recent information stating that clients of Franklin Templeton ETF products purchased approximately $5.66 million worth of XRP, indicating that even with overall market volatility, some large funds are continuing to increase their holdings.
Overall, the core assessment of this commentary is that XRP is currently in a period of observation driven by both price structure and funding dynamics. In the short term, whether the support level of $0.85 to $0.88 can hold, and whether the resistance zone of $1.23 to $1.65 can be reclaimed, remain the two price ranges that the market is most focused on.
