XRP was trading at $1.50 on Thursday, down 4.5% over 24 hours and up 15.6% over the past week, as a technical analyst who had forecast a deeper decline earlier this year revised his outlook following Bitcoin’s recent strength. A separate near-term analysis, however, points to further weakness before any renewed push higher.
A Revised Forecast
The analyst, who in March had predicted XRP would fall to between $0.70 and $0.90 before marking a cycle low, acknowledged this week that the target was not reached. He said Bitcoin’s price action was the primary reason for the revised view.
Why Bitcoin’s Move Matters
Bitcoin has held above its 50-week moving average for three to four weeks and recently broke past its previous high from May, a pattern the analyst said has historically signaled the end of a bear market in past cycles dating back to 2014. XRP, by contrast, has struggled to reclaim the same technical level over the same period.
Key Levels To Watch
The analyst said XRP’s near-term path now depends heavily on Bitcoin’s next move. A daily close above $1.59 to $1.60 would support a push toward $1.80, with a break above prior wick highs near $1.66 serving as further confirmation.
He said this scenario is more likely if Bitcoin reclaims $85,000 and advances toward $93,000. A rejection for Bitcoin at $85,000, he said, would likely coincide with XRP failing to hold its own support level and pulling back toward the $1.30 region.
A More Bearish Near-Term Read
Analyst Vincent Van Code said XRP is trading at support near $1.49, with most technical indicators currently showing bearish signals. He said XRP has been sharply rejected from highs near $1.62 and has entered a steep corrective phase, breaking below key moving averages, with the RSI falling into oversold territory below 30 and the MACD histogram deeply negative, confirming strong downward momentum.
He placed immediate support at the recent swing low of $1.4942, with resistance at the failed breakout level of $1.6182, and said the overall structure suggests a test of lower support is likely.
Downside Risk Still On The Table
There is significant cluster of leveraged positions near $0.98, representing more than $2.7 billion in potential liquidations. He said this level does not need to be reached, but after a rally of 70% to 80% from recent lows, he remains open to a deeper pullback before the end of the year rather than assuming a direct move to new highs.
What Comes Next
Taken together, both analyses suggest XRP faces a test in the near term. Whether it holds current support and builds toward $1.80, or breaks down toward $1.30 and potentially lower, will likely hinge on how Bitcoin behaves at its own resistance level in the coming days.
Was this writing helpful?
Story Ends Here
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Read the Next News
