Analysts flagged the pattern. Short positions have not been piling up the way they typically do when a market turns bearish. Instead, traders appear to be buying into the weakness, a sign that many expect a price recovery rather than a continued slide.
XRP dropped nearly 4% over the past week. But the futures market is not behaving like one bracing for more pain.
What The Charts Say About Possible DownsideNot every analyst is calling a bottom. A separate technical analysis flagged XRP as potentially still inside a corrective pattern — what Elliott Wave traders call a Wave 2/5 retracement. Under that reading, the price could briefly push toward $1.51 before pulling back more sharply.
Key downside levels being watched include $1.12, where a double-bottom formation could take shape, and $0.87, which many traders regard as a strong long-term accumulation zone. Reports indicate some see the current price action as a late-stage shakeout — a test of conviction before a larger move upward.
That tension is sitting at the center of XRP’s current moment. The short-term and long-term pictures are not telling the same story.
Those targets are tied to broader narratives: growing institutional interest, Ripple’s resolved legal standoff with the SEC, and expanding adoption of blockchain-based payment infrastructure.
Reports note that skeptics remain. XRP has a history of slow upward movement punctuated by sharp pullbacks, and even believers in a $10 target acknowledge that significant volatility could accompany any rise toward that level.
Featured image from Gemini, chart from TradingView
