XRP tests its support at a critical price zone after a 15% weekly drop

SilentAlpha · 2026-03-05T13:08:49+00:00

XRP's price has corrected by about 15%, currently at $1.44, hovering near the key support zone. Technical analysis suggests limited downside and potential short-term recovery to $1.78 or $1.93, but it must surpass $2.03 for a genuine bullish reversal.

SilentAlpha

2026-03-05 13:08:49

Abstract generation in progress

According to data from Bijie Network, the price of XRP experienced a significant correction this week, dropping approximately 15% and currently trading at $1.44, with a 0.27% increase over the past seven days. The cryptocurrency is consolidating near the “golden pocket,” the well-known support zone between $1.53 and $1.60, a technical level of particular importance in determining the market’s next move.

Technical analysis suggests potential recovery

Analyst CasiTrades notes that the current price behavior aligns with Elliott Wave Theory projections, indicating that the room for further declines has been considerably limited. From this perspective, there is potential for XRP to rebound toward levels of $1.78 or even $1.93 in the short term.

However, the outlook presents a critical point: to establish a genuine bullish reversal and avoid deeper declines, XRP’s price must decisively break above the resistance level at $2.03. This price point represents the breakout that would separate a simple technical rebound from a structural change in the market trend.

Cautious traders monitor these key price zones as fundamental indicators to define the next phases of XRP’s movement in the markets.

XRP-3.04%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.