XRP is locked in a broad weekly compression after another rejection from descending resistance. As per analysts, the current structure is similar to prior consolidation phases, with price holding near the $1.95-$1.96 demand zone.
On the weekly chart, momentum pressure has slowed while price continues to respect the lower trendline. Analyst ChartNerd said that XRP is a few weeks away from a potential bullish MACD cross on the weekly timeframe, a move that last preceded a full-blown rally toward new highs.
Source:
X
The repeated defense of this support band keeps the higher-timeframe structure intact despite recent volatility. As the price remains below the resistance trendline seen in the chart above, a follow-through is yet to materialize.
XRP fell below $2 after failing to hold a breakout attempt earlier this week. Once the price failed to push above $2, sellers stepped in aggressively. The rejection triggered a sharp correction and cleared late long positions, breaking support at $1.972 on strong volume.
The move flipped the short-term structure bearish. Lower highs are now forming below $1.98, and former support has turned into resistance. Analysts see this as a failed breakout followed by a reset.
The $1.96 level remains critical. As long as it holds, the structure allows for a recovery attempt. A daily close back above $2 would shift short-term control back to buyers and open a grind toward $2.05, the level that restores bullish structure on higher timeframes.
According to an analyst, a stronger signal would come from reclaiming $2.06 on a daily close. Above that, focus shifts to the October breakdown zone near $2.72. Failure to hold $1.96 would expose the $1.90 area, which marks the next support level.
(adsbygoogle = window.adsbygoogle || []).push({});Derivatives data shows that the recent crash on January 18 was one of XRP’s largest long liquidation events this month, with total forced closures exceeding $5 million. Binance alone accounted for roughly $1.05 million of those liquidations.
Source:
CryptoQuant
The liquidation wave followed a broader market sell-off triggered by macro headlines tied to the US-EU trade tensions. Bitcoin fell, dragging the wider market lower.
Related: XRP Pulls Back After Early-2026 Rally as Technicals Turn Bearish
