- XRP pulled back after rallying 25% over the weekend.
- Analysts consider the latest pullback a consolidation ahead of an upsurge.
- XRP’s market cap is preparing for a major breakout after establishing a bottom.
The resurgent optimism around XRP’s price faded over the weekend after the cryptocurrency’s daily chart reflected a rejection pattern, following a 25% rally in less than 72 hours.
A Quick Pullback After a Notable Rally
According to data from TradingView, XRP broke above the significant $1.50 resistance after a protracted downtrend, reaching $1.67 for only the second time in February 2026. Besides the rally’s extent, the nature of XRP’s price movement, which reflected a classic “higher-lows” reversal pattern, boosted users’ optimism.
However, as mentioned above, a sharp return to the sub-$1.50 region, highlighted by a classic rejection candle on the daily chart, has left traders concerned about the cryptocurrency’s future. Nonetheless, the latest pullback appears to have lost steam, leaving XRP in a tight range, with traders watching external factors that could trigger the next breakout.
What is to Come for XRP?
XRP traded in a tight range between $1.44 and $1.51, according to data from TradingView. Meanwhile, many analysts consider the cryptocurrency’s latest behavior a sign of what is to come. According to XRP Ledger (XRPL) developer Bird, XRP’s broader liquidity structure now favors an aggressive upside move.
The analyst, while analyzing XRP’s market capitalization chart, noted that the metric’s bearish trend has established a bottom. He identified the support at $68.15 billion as a bottom for the XRP market cap. Having bounced off that level, the metric’s next significant resistance, as highlighted by Bird, is the $111 billion region. He believes that breaking above that level will open the door for XRP to target new highs in rapid succession.
In the meantime, it is worth noting that macroeconomic factors, including economic data and regulatory developments, are playing crucial roles in XRP’s price behavior. These factors directly affect XRP, considering Ripple’s multi-year battle with the US Securities and Exchange Commission (SEC). A clearer regulatory framework, alongside favorable macroeconomic policies, could form the tailwind behind XRP’s next major rally.
Related: XRP Price Prediction: XRP Eyes Recovery While Sellers Stay Active
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Source: https://coinedition.com/xrp-prepares-for-new-highs-after-returning-below-crucial-support/
