XRP is holding near the $1.13 on Friday, a level that has served as critical support for several weeks and remains the most important price point on the chart heading into the weekend. The lo
XRP is holding near the $1.13 on Friday, a level that has served as critical support for several weeks and remains the most important price point on the chart heading into the weekend.
The longer-term bear market structure has not been broken. No confirmed reversal signal has appeared on the weekly timeframe, and the broader downtrend remains technically intact.
However, XRP continues to hold the 50% retracement level at $1.13, a zone flagged months ago when the price was trading well above $1.30. The prediction at the time was a break below $1.30 would lead to a swift move toward $1.13. That played out precisely as expected, and $1.13 has since held as support on a weekly closing basis.
If that level eventually breaks with confirmation and the price fails to recover back above it, the next meaningful support sits between $0.90 and $1.00, a zone that would represent a further decline of roughly 10% to 20% from current levels.
A potential head and shoulders pattern is forming on the four-hour timeframe, which would be a bearish signal if confirmed. It is not confirmed yet. For the pattern to activate, the right shoulder needs to complete and a four-hour candle needs to close below the neckline at $1.12 to $1.13, followed by a failure to reclaim that level.
If XRP instead produces a decent bullish move over the coming days, the right shoulder would become disproportionately large compared to the left, effectively invalidating the pattern before it ever triggers.
The pattern is something to monitor rather than act on. For now, $1.13 is holding and the bearish setup remains unconfirmed.
