Ripple’s XRP is under close scrutiny as it trades below $1.40, down over 5% in the last 24 hours. The cryptocurrency, which briefly rallied to $1.51 following news of SEC Chair Gary Gensler’s resignation, has since reversed course. Broader market sentiment remains weak, with major coins like Bitcoin also sliding into negative territory.

Despite the short-term bearishness, XRP continues to hold key support levels, leaving traders to speculate whether the token will break out to new highs or break down further. Here’s a closer look at the critical levels shaping XRP’s trajectory.

Key Support and Resistance Levels

Support Holds Steady Around $1.30

XRP is currently retesting its 78.6% Fibonacci retracement level, which has transitioned from resistance to a robust support zone. This level sits around $1.30, with additional support in the $1.25–$1.30 range.

Analyst Josh from Crypto World highlights the importance of this zone, as consistent support here over recent days has prevented a deeper decline. However, if the $1.25 level is breached, the next significant support is located between $1.00 and $1.04—commonly referred to as the “golden pocket.”

Resistance Remains Firm at $1.48

On the upside, XRP faces a critical resistance level near $1.48. This level aligns with the upper boundary of a symmetrical triangle pattern forming on the charts, which is a key structure for predicting future price movements.

Symmetrical Triangle Pattern: A Key Indicator

The symmetrical triangle pattern is taking shape, with ascending support around $1.33 and descending resistance near $1.48. This pattern often precedes significant price action in either direction, as it reflects a balance between buyers and sellers that typically resolves in a breakout or breakdown.

Currently, the resistance line appears more reliable, with multiple touchpoints, while the support line has fewer confirmations. A third touchpoint on the support line would solidify the pattern and provide a clearer roadmap for XRP’s next move.

Potential Scenarios for XRP

1. Bullish Breakout to $1.77

If XRP manages to break above the $1.48 resistance level, it could trigger a rally toward $1.77, representing an 18% upside. This move would align with the upper target of the symmetrical triangle and signal a continuation of XRP’s broader bullish trend.

2. Bearish Breakdown to $1.10

Conversely, a break below the $1.33 support level could result in a decline to approximately $1.10. This bearish scenario would reflect a shift in market sentiment and could lead to increased selling pressure across the board.

3. Range-Bound Consolidation

If neither support nor resistance is breached in the coming days, XRP may continue to trade within the $1.25–$1.48 range. While this would provide a period of stability, it could also frustrate traders awaiting a decisive move.

XRP’s Broader Outlook

While short-term fluctuations dominate the market, XRP’s long-term outlook remains optimistic. Larger timeframes reveal a bullish trend, with higher lows and the potential for significant gains once resistance levels are cleared.

Ripple’s ongoing legal victories and developments within the ecosystem provide additional support for the token’s long-term fundamentals. However, traders should remain cautious, as macroeconomic factors and broader market conditions can still influence XRP’s price trajectory.

What Traders Should Watch For

• Breakout Confirmation: A sustained move above $1.48 would signal a bullish breakout.
• Support Retest: Monitoring the $1.25–$1.30 range will indicate whether the current support holds.
• Volume Surge: Increased trading volume near key levels often precedes significant price action.