XRP Forms Channel Support That Puts Market In Difficult Spot, But Bulls Still Have A Chance

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. XRP has entered one of its most uncomfortable technical zones in months. The cryptocurrency has now broken below a support base that had held since February, but the selloff has not yet turned into a collapse below $1. Instead, the daily chart shows the XRP price landing on a much older descending channel support that has guided it lower since August 2025. That leaves the cryptocurrency in a difficult position that shows the breakdown is real, but so is the possibility that the latest liquidation has simply carried XRP into a deeper support line that still gives bulls a chance. XRP Breaks February Support, But Finds A Lower Channel Floor Technical analysis of the daily XRP chart shows a clear loss of the straight support range that had held the market together since February. For months, XRP moved mostly sideways between $1.25 and $1.55, with buyers repeatedly stepping in each time the price returned to the lower boundary. Related Reading The XRP Dream Has Changed: Why A Rally To $10 Could Happen Despite Disappointment 1 day ago That structure finally gave way in early June, and XRP fell within the range with a daily candle that pushed the price into $1.10. This move was accompanied by various on-chain signals dropping to bear levels and the XRP profit/loss ratio falling to its lowest levels since 2024. Source: Chart from Guy on the Earth on X However, an interesting part of the price action is where the selloff stopped . XRP seems to have found support on the lower line of a broader descending channel that has been active since August 2025. This larger channel has contained nearly every major XRP move for months, and the latest liquidation wick landed almost exactly where buyers needed it to land to keep that bigger structure alive. Bulls Still Have A Chance According to crypto analyst Guy on the Earth, XRP finding support at this descending channel could be something or it could be nothing. In order for this move to mean something, the first level that matters is $1.10. A loss of $1.10 would weaken the channel-support argument. Therefore, the XRP price needs to hold above $1.10. So far, bulls are doing well to that effect, with XRP currently trading at $1.12 and an intraday high of $1.17. Related Reading XRP Is Oversold On Every Time Frame, And This Could Be The Bullish Signal Everyone Is Waiting For 18 hours ago The next upside level to watch is $1.27. That price level is important because it was close to the lower boundary of the February to May range before the breakdown. Former support often becomes resistance once price loses it, and a return to $1.27 would therefore be the first real test of whether XRP is only bouncing from oversold conditions or beginning to repair the damage from the breakdown. Crypto analyst Guy on the Earth believes XRP could soon put traders in a difficult position with a quick move toward $1.96, suggesting that the next major rally may arrive with explosive force after months of persistent downside. XRP trading at $1.11 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com