XRP holds above $0.98 support, but $1.16 breakout needed to reverse trend
XRP is trading around $1.06 and holding above the $0.98–$0.99 support zone. However, analysts say the bearish structure is not fully repaired yet.
More Crypto Online’s take: XRP needs a decisive breakout above $1.16 to weaken the downtrend and confirm a broader recovery (Elliott Wave “Wave 2” scenario). Without reclaiming that level, any rebound may remain a short-lived relief move.
Resistance is still heavy at $1.27–$1.42. Traders may see renewed selling there, limiting upside follow-through.
On the downside, a breakdown below $0.98–$0.99 could restart selling momentum, with a potential move toward $0.74.
Seasonality is mentioned as a modest tailwind since XRP has historically performed better in July, but near-term price levels—$0.98–$0.99 versus $1.16—remain the key decision points for traders.
Neutral
The news is mixed for XRP. Short-term, holding above the $0.98–$0.99 support zone (around $1.06) reduces immediate downside risk. But the bearish Elliott Wave read implies the broader downtrend may persist unless XRP breaks above $1.16.
In the short run, traders may treat bounces as potential relief trades while resistance at $1.27–$1.42 caps upside. That keeps momentum and positioning cautious. Longer term, a clean $1.16 breakout would be the first technical trigger suggesting a more sustainable Wave 2 recovery, improving the probability of trend reversal.
Conversely, losing $0.98–$0.99 would be a bearish confirmation, likely accelerating selling toward $0.74. Seasonality in July is cited as a minor tailwind, but it is not enough to override the key technical triggers. Overall, price action depends on whether XRP can reclaim $1.16 without failing at resistance, resulting in a neutral-to-cautious market impact for XRP specifically.