XRP has dropped 5.33% to $1.14 in 24 hours, pulling back after completing a textbook double bottom pattern that hit its exact price target of $1.29. The pattern played out precisely as anticipated, with the $1.29 target reached to the nearest cent before the current pullback began.
One analyst said that the pattern is now complete and the price target has been achieved. The move is over.
Why the Pullback Is Happening
Two factors are driving the current decline. XRP became short-term overbought on the rally to $1.29 and is now cooling off from those elevated readings. Additionally the token has broken back below the $1.18 to $1.19 level that had briefly acted as support, removing a layer of near-term price cushioning.
The break below $1.18 is a signal that the short-term momentum has shifted. The next support level is now $1.13, the same weekly support that has held through the entire current bear market.
The Key Levels
$1.13 is the line that matters most right now. It has held as a major support consistently and remains the floor that bulls must defend. A confirmed break and close below $1.13 would open the door to the next major support zone between $0.90 and $1.00, a significant drop from current levels.
To the upside resistance sits near $1.30. That level needs to be cleared and held before any meaningful recovery narrative can develop.
The longer-term bearish trend has not reversed. XRP is holding above $1.13 for now but the larger structural picture remains unclear. No confirmation of a cycle bottom has arrived and the weekly chart has not yet produced the kind of signal that would indicate the bear market is definitively over.
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