XRP slid by 5.33% to $1.14 over the past 24 hours, after the cryptocurrency completed a textbook double‑bottom that precisely touched its $1.29 price target.
Pattern Completion Triggers a Short‑Term Decline
The double‑bottom formation unfolded exactly as analysts predicted, with the $1.29 level reached to the nearest cent before the market reversed. Traders now view the move as finished, and the token entered a corrective phase.
Critical Support and Resistance Zones
Two dynamics are pulling XRP lower: the asset turned short‑term overbought during its surge to $1.29, and it slipped beneath the $1.18‑$1.19 band that briefly acted as a floor. The next defensive line sits at $1.13, a weekly support that has survived the entire current bear market. A breach beneath $1.13 could expose the $0.90‑$1.00 corridor, while resistance remains clustered around $1.30, a level that must be cleared for any bullish recovery.
Implications for Crypto Investors
Although XRP maintains a position above $1.13 for now, the broader bearish structure has not been overturned, leaving the market outlook uncertain. Investors should monitor the $1.13 threshold closely, as a confirmed close below that mark would likely accelerate the descent toward lower support zones. The blockchain asset’s price action continues to shape sentiment across the crypto market.