XRP Recovers to $1.32 Level

XRP is recovering to $1.32 after holding support at $1.26 for the second time in October. The asset is moving towards the upper boundary of the short-term descending channel and the 0.5 Fibonacci level. A breakout from this zone could change the short-term structure, whereas another rejection will keep sellers in control.

On the daily chart, XRP is correcting the August rally from $0.99 to $1.70. The decline has taken the price below the 0.5 Fibonacci level at $1.34, which now acts as resistance; an unsuccessful attempt to climb back above $1.40 on October 21 reinforced the bearish structure. Key support is at $1.26, where the 0.618 level coincides with the previous demand zone. Two lower wicks indicate buyer reaction, but the bounces remain modest: the level holds, but the market has not confirmed a reversal.

Above, a return to $1.34 will be the first sign of improvement and open the path to the supply zone at $1.40, and above it, $1.50 marks the beginning of the last major breakout. If $1.26 is broken with a confident daily close, XRP could move to the 0.702 level at $1.20; below, $1.14 stands out as the 0.786 level and the upper boundary of the demand block from which the August rally began.

On the four-hour chart since the end of September, when the peak was around $1.65, XRP has been trading in a descending channel with consecutive lower highs. The upper boundary rejected the price around $1.40 on October 21, confirming the trendline as dynamic resistance. Buyers have twice defended $1.26, forming slightly higher lows, and now the price is approaching the upper boundary of the channel around $1.34, coinciding with the daily 0.5 level.

A decisive breakout could trigger a rebound to $1.40, and overcoming it would weaken the channel and bring $1.50 back into focus. A rejection around $1.34 is likely to return the price to retest support. Closing a four-hour candle below $1.26 along with losing the lower boundary of the channel around $1.23 will indicate a loss of control by buyers, and then the next target level will be $1.20. Until XRP breaks the upper boundary, rebounds to $1.34 are more likely to encounter sellers than confirm a reversal.