XRP Price Analysis: $1.38 Level Holds After $3.32 Fibonacci Rejection

⬤ XRPUSD price action is unfolding in close alignment with key Fibonacci retracement and extension levels, showing classic technical behavior on the weekly chart. Reported, XRP initially rallied into the golden pocket zone before rejecting, found support around the 0.236 fib level, and later advanced toward the 1.236 and 1.272 extension zones

⬤ The chart highlights XRP’s price interaction with a broad Fibonacci grid stretching from major retracement bands up to extension targets. After a long-term rally from lower levels, price climbed into the 1.236 and 1.272 zones near the $3.07 to $3.32 range before encountering selling pressure. That rejection brought XRP back down toward the golden pocket and eventually to the 0.236 support region near the $1.10 mark. These fib levels offer structured waypoints that illustrate how buyers and sellers are responding to key thresholds of the prior move, similar to patterns seen in recent bearish channel analysis threatening a 40% drop.

⬤ Most recently, XRP price has pulled back from the higher extension area and now trades well below its recent peak, nearer to the 0.786 and 0.618 retracement areas which traditionally act as strong technical support zones. The pattern emphasizes that this suggests the probability of seeing XRP find buy-side support around current levels rather than retracing the entire move higher. Earlier analysis showed XRP testing $1.55 resistance with potential breakout to $1.80, highlighting the ongoing battle between bulls and bears at these crucial levels.

⬤ The continued respect of Fibonacci support levels underscores technical resilience in XRPUSD’s structure, framing price behavior within an accepted analytical framework rather than chaotic breakdown. By reacting at predictable thresholds like the 0.236 retracement and golden pocket zones, the chart points toward a consolidation phase rather than an outright reversal of the broader trend. Previous observations of XRP testing the 0.5 Fibonacci level at $2.21 demonstrated similar respect for key technical markers during the recent rally phase.