XRP is standing at a critical crossroads, revisiting the $1 support level while also eyeing a potential breakout toward the $10 high, sharply intensifying investor sentiment.
According to crypto media outlet NewsBTC on February 11 (local time), XRP has reached a significant technical inflection point that will determine its direction. Analyst Crypto Patel warned that XRP could undergo a deep correction to around $1 before reaching its long-term target of $10, urging investors to exercise caution. Patel noted that the current price action has entered a phase that tests investors’ patience.
Analysis of the monthly candlestick chart and technical indicators shows that short-term downward pressure is prevailing. The Relative Strength Index (RSI) is approaching oversold territory, and the presence of strong trading volume during the decline suggests firm conviction among sellers. Patel presented a model indicating that if a key support level breaks, XRP could fall further into an additional accumulation zone between $0.90 and $0.70.
The market considers a specific price range as the final line of defense that will determine the future trend. This zone had acted as a strong resistance level for the past four years but recently broke above it, turning it into a critical structural support. Institutional investors are injecting capital into this range, viewing it as a renewed buying opportunity. However, a large accumulation of leveraged long positions among retail investors poses an ongoing risk of a temporary sharp decline aimed at liquidating these positions.
Another analyst, Egrag Crypto, maintains a more optimistic long-term outlook and presented specific targets. Based on a logarithmic linear regression channel, Egrag analyzed that a breakout above $3.40 would signal the beginning of a full-fledged macro bull market for XRP. He set $10 as a mid-cycle target during the expansion phase and assessed that the technical groundwork is in place for a potential rise toward the channel’s upper boundary at $27.
Disclaimer: This article is for investment reference only and we are not responsible for any investment losses resulting from reliance on this information. The content should be interpreted for informational purposes only.
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