XRP
XRP Tests Key Technical Levels Following Summer Double-Bottom Pattern
After rebounding from lows near one dollar in June and August, XRP has pulled back toward former resistance levels around one dollar and twenty cents.
XRP established a double-bottom technical formation over the summer after hitting lows of approximately $1.01 on June 26 and $1.03 on August 6. Buyer demand around the $1.00 mark led to a breakout above the $1.18 to $1.20 resistance band, eventually carrying the asset to an interim peak of $1.70 on August 22.
The token has since retreated roughly 17% from its late-summer high, trading around $1.41 on October 10. That price level reflects a 5% weekly decline and leaves XRP roughly 61% below its all-time high of $3.65.
Market analysts are monitoring the $1.17 to $1.20 price range as a potential retest area for the previous neckline. According to the analysis, sustaining prices above this zone would keep the technical pattern intact, whereas a daily close below $1.17 could indicate waning momentum from the breakout.
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