XRP revisits a critical Fibonacci zone linked to past rallies, hinting at a possible breakout if resistance is overcome.
Short-term XRP charts show bearish pressure with descending peaks and weak volume, risking further dips below $2.08.
Mixed market views surface as some predict major rallies while cautious analysts highlight key resistance and volume limits.
XRP’s current chart structure mirrors the 2017 setup, as prices revisit key Fibonacci retracement levels once again. With the RSI approaching similar historical points, analysts are watching for a potential breakout.
Revisiting Historical Structures and Fibonacci Symmetry
According to JD, a prominent analyst, XRP followed a near-identical setup in 2017, tapping the 0.786 Fibonacci line before a parabolic rally. That move sent the price above $3.37, followed by a 96% decline. JD noted that in 2024, the RSI Candlestick Oscillator tapped the same level once, creating a comparable setup.
Source: Post on X
The analyst emphasized that this single touch may suggest a different tempo than the double-tap seen in 2017. However, structural symmetry remains intact, especially as XRP formed a rectangular consolidation between $0.60 and $0.90. This zone sits within the 0.618–0.786 Fibonacci band, historically linked to rebound phases.
The analyst highlighted that a breakout above this zone could trigger a return to $1.37 and potentially test the $3.37 cycle high. JD also charted a diagonal support trendline from 2017 that has consistently held. XRP has now returned to this trendline, currently near the $0.30–$0.40 range.
This analysis shows that both the 2017 and 2020 rallies began from this region, reinforcing its long-term importance. Volume patterns resemble the 2017 pre-rally pause, supporting the comparison. The setup points to a critical inflection in XRP’s multi-year trend.
Short-Term Trends Show Bearish Momentum Still Intact
Short-term charts reveal a bearish structure defined by persistent lower highs and weak buying volume. Price remains capped by resistance, with no clear reversal confirmed. According to Bellamy, another analyst, XRP has failed to reclaim resistance since May 26. The analyst identified $2.3527, $2.3512, and $2.3126 as descending peaks that reinforced the trend. Each rejection added to the seller's strength.
Source: Post on X
The analyst added that the recent low at $2.0780 attracted brief interest, but volume failed to follow through. Price remains below resistance levels, and no bullish pattern has formed. A break below $2.0780 could extend losses toward $2.000 unless momentum shifts.
Social Analysts Forecast Both Explosive Moves and Caution
While chart-based analysts remain cautious, sentiment-driven posts on X express bolder targets. JD projected a leap to $589, claiming disbelief as the only barrier. That view lacks technical backing but has gained traction online.
Meanwhile, Bellamy announced a long position after XRP tapped a demand zone. The user forecasted a rally to $2.78, citing structural alignment. Market participants remain split between chart signals and sentiment-based speculation.
