XRP Faces Critical Resistance and Potential Downside
- XRP has been consolidating for four months, unable to break above the $1.65 resistance level.
- Analyst CasiTrades suggests XRP may need to dip to lower macro supports at $1.10 and $0.87 before a potential recovery.
- Current support levels are between $1.26 and $1.30, with a year-to-date low around $1.11.
XRP’s price movement since early this year indicates a compression pattern, with significant resistance at $1.65 acting as a ceiling for its consolidation structure on the chart. The ongoing inability to surpass this level could lead to further downside before any substantial bullish momentum can take hold.
The analysis highlights that breaking below current support could push XRP towards deeper targets, potentially setting the stage for a rebound if enough buying interest emerges beyond these levels.
