Despite recent volatility, prominent analysts argue that the technical situation of the $XRP

is not bearish yet. They highlight specific price levels that are crucial to confirming this trend.

The technical assessment of the recent 5-day XRP chart adds context to analysts' views.

Analysts remain cautiously optimistic about the price $XRP

XRP prices fell by approximately 7% over the past week amid escalating geopolitical tensions, driven particularly by U.S. airstrikes on Iranian facilities. The price of the altcoin dropped from around $2.20 to a low near $1.90 before stabilizing around $2.06.

Veteran trader Peter Brandt pointed to the potential emergence of a head and shoulders (H&S) pattern on the #XRP chart. This is typically a bearish indicator suggesting a reversal from an upward trend to a downward trend if key support levels are broken.

However, Brandt stresses caution against premature bearish conclusions. He explicitly points to the importance of XRP maintaining support above $1.80. Confirmation of a bearish scenario requires a critical weekly close below this crucial level.

At the same time, analyst E, GRAG C, RYPTO presented a detailed bullish perspective using multiple technical indicators.

The Gaussian channel is a volatility indicator used to determine the strength of trends and potential reversals. A close within the bounds of this channel, currently around $1.75, may indicate weak momentum and the possibility of downward pressure.

E, GRAG emphasizes the importance of maintaining $XRP above this threshold to sustain the strength of the upward trend.

Additionally, the 21-week exponential moving average acts as a key moving average used by traders to determine overall trends.

A close above the exponential moving average level at $2.33 indicates strong bullish momentum.

Moreover, a breakout above the resistance level at $2.65 will confirm a strong long-term bullish trend.

E, GRAG also applies Elliott Wave analysis, a technical approach that identifies recurring patterns (waves) in market prices to forecast potential targets.

XRP price analysis using Elliott Wave indicators.

Using Elliott Wave indicators, the analyst expects the price #XRP to reach between $9 and $10 if the altcoin successfully completes its anticipated fifth wave, provided current support levels hold.

Short-term technical analysis supports caution

XRP faced significant selling pressure as prices sharply declined toward $1.90, which was confirmed by the notable drop in the accumulation/distribution (A/D) line.

The accumulation/distribution line measures cumulative buying and selling pressure, and its decline indicates increased trading volume at lower prices, reflecting strong seller activity.

As XRP price approaches support near $1.90, the accumulation/distribution line has stabilized and started a slight upward trend during the rebound, indicating renewed buyer activity.

XRP Accumulation/Distribution chart over the past five days.

However, the accumulation during this rebound did not fully neutralize the previous distribution, indicating a need for caution.

At the same time, the Chaikin Money Flow (CMF) indicator, which shows the strength of money flow into or out of an asset, turned negative during the sell-off, confirming the strength of outflows.

Despite a slight improvement in the Chaikin Money Flow (CMF) during XRP's recovery, it remained weak and did not enter positive territory, indicating that buyers are still hesitant.

XRP CMF Chart.

Consolidation and critical levels to watch for XRP

These technical indicators suggest that XRP is currently undergoing cautious consolidation. While the support level near $1.90 has proven strong, the limited improvement in the CMF indicates ongoing market uncertainty.

Overall, this analysis aligns with analysts' views that the key support level between $1.75 and $1.80 remains intact. Only a decisive weekly close below these support levels would confirm bearish expectations.

Traders should closely monitor XRP's interaction with critical support and resistance levels.

XRP Price Chart. #Ripple

Specifically, a confirmed breakout above the $2.33 level, then $2.65, indicates the continuation of the upward trend, while a decisive breakout below the support level between $1.75 and $1.80 increases the risk of a downturn.