Ripple’s XRP is currently valued at approximately $2.17 after a notable weekly decline exceeding 13%. This price point is significant as it returns to a previously identified level that spurred a robust rally. Analysts are closely observing to determine if this price context can facilitate another major upswing.

Recurring Testing of Familiar Territory

A chart provided by ChartNerd shows XRP touching the mid-regression band of the Growth Curve (GC), with this same level serving as a base prior to the July 2024 surge. The price is fluctuating between $2.00 and $2.20—the same price range where the last rally initiated. Notably, the chart indicates a potential repetition of that setup, highlighted by a grey box corresponding to the earlier consolidations. Recent market movements suggest buyers are returning to support levels. ChartNerd mentioned that this area “could be our foundational base,” although price consistency is still required.

Source: ChartNerd/X

Additionally, another analyst, EtherNasyonaL, posted recent findings indicating XRP has remained within a distinct trading range, with support positioned at approximately $1.99 and resistance at about $3.31. This trading pattern has been stable for several months, with price movements largely lateral. The analyst referred to this as a re-accumulation phase, affirming that as long as XRP remains between these two levels, the setup stays valid.

“Unless the structure is broken,” they stated, “this silence will trigger a new leg.”

A breach above $3.31 would signify a trend reversal, whereas a fall below $1.99 could lead to lowered expectations.

Short-Term Perspective Reveals Ambiguity

CryptoWZRD shared a pessimistic daily outlook, noting both XRP and XRPBTC displayed weak closing figures. Immediate resistance is identified at $2.75, with $2.00 acting as a critical support stake. Current price movements have been unpredictable. A significant drop beneath $2.30 could initiate a short selling opportunity, while a rise above $2.55 might suggest a potential upward trend. The analyst emphasized they are “waiting for a more mature chart formation” before taking further action.

On-Chain Activities and Wallet Expansion

According to CryptoQuant market analyst CryptoOnchain, a significant number of XRP holders have started transferring their coins to exchanges, a move typically associated with profit-taking during price surges. The analyst characterized this behavior as a classic “sell the news” scenario. Despite this recent downturn, 21,595 new XRP wallets were established within just two days—the highest increase recorded in eight months, as reported by CryptoPotato.