XRP is holding above a critical support level on the weekly chart while a potentially bullish price pattern takes shape on shorter timeframes, offering traders a setup worth watching as Bitco
XRP is holding above a critical support level on the weekly chart while a potentially bullish price pattern takes shape on shorter timeframes, offering traders a setup worth watching as Bitcoin approaches its own breakout zone.
Weekly Picture: Support Holding, Bear Market Intact
XRP continues to hold near $1.13, the support level that analysts have been flagging for weeks as the line between a temporary pullback and a more significant decline. That level has not been broken on a confirmed weekly closing basis, and until it is, the floor technically remains in place.
The longer-term picture has not changed. The bear market structure is intact and no confirmed reversal signal has appeared on the weekly timeframe. XRP holders looking for a definitive all-clear have not received one yet.
The Double Bottom Taking Shape
Where things get more interesting is on the four-hour chart. XRP appears to be forming a potential double bottom pattern, also known as a W pattern, a technical setup that often precedes a short-term price recovery when confirmed.
Bitcoin is further along in forming the same pattern and is approaching a breakout point, while XRP is still in the earlier stages of building the right side of the W.
That lag is actually relevant for traders. If Bitcoin breaks out first and you miss the initial move, XRP may offer a second opportunity as it follows Bitcoin’s lead with a slight delay. The important resistance level to watch on any recovery attempt sits at $1.18.
The Underperformance Problem
XRP has been one of the weaker performers throughout this bear market cycle, lagging behind both Bitcoin and many other major altcoins. That trend has not reversed and should be factored into any near-term assessment of the token’s prospects.
