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$XRP is holding near $1.13 on the weekly chart, a level that has been acting as critical support through the current bear market. The longer-term bearish trend has not yet reversed and no confirmation of a structural bottom has arrived. For now the $1.13 level is doing the work of keeping the price structure intact.
The Downside Risks
A confirmed break below $1.13 would open the door to the next major support zone between $0.90 and $1.00. If that area fails to hold, analysts are watching $0.70 as the next significant target to the downside.
Neither scenario has been confirmed yet and $1.13 remains and support unless a decisive close below it changes that picture.
The Pattern Forming on the Four Hour Chart
$XRP is attempting to form a W-shaped recovery pattern on the four-hour chart, similar to what Bitcoin has already completed and confirmed. The key difference is that $XRP has not yet finished the formation phase of that pattern, let alone confirmed it.
For the pattern to become bullish, $XRP needs to break and hold above $1.18, the resistance level sitting at the top of the structure. Until that happens the pattern remains unconfirmed and should not be traded as if it has already played out.
The Underperformance Problem
$XRP is currently lagging Bitcoin rather than leading it. Altcoins broadly are tracking Bitcoin’s direction but doing so with slightly worse performance, meaning any recovery in $XRP depends first on Bitcoin sustaining its own rebound.
Watch $1.18 as the key level to the upside and $1.13 as the line that must hold to the downside. The next few days will determine which direction gets resolved first.
