**Positive Price Pattern Suggests Potential for Growth; Breaking Through $2.60 Resistance Could Spark Rally Towards All-Time Highs**
The recent rebound of XRP from $1.79 to $2.70 in February reflects historical trends, indicating that active buyers are still present despite recent price fluctuations. However, XRP has recently dropped to fourth place in the cryptocurrency market by market capitalization, falling below Tether due to a price decline. This shift is attributed to a 17% loss over the past week and a 28% drop in the last month. Source: Tradingview.
Analysts at ETHNews believe that the asset’s technical setup still offers opportunities for recovery if certain price levels are maintained. Market analyst Crypto Michael, in a February 26 analysis, pointed out that XRP’s overall upward trend remains intact despite recent selling pressure. He identified a symmetrical triangle pattern on the price charts, where asset values fluctuate between converging trendlines. Notably, XRP has managed to stay above a defined support line within this pattern, even as prices have dipped.
Crypto Michael expressed optimism, stating, “There is still hope for new highs if it holds this purple support line. A break of $2.60 is needed to activate a move up to new all-time highs. Expecting more fluctuations this week before a decisive move in March.”
He anticipates limited movement in the short term but expects a clearer directional shift in March. A decisive close above the triangle’s upper boundary at $2.60 could potentially push the token past its 2018 peak of $3.84.
Independent analyst Javon Marks highlighted historical patterns to emphasize the current situation. He referenced a trading session on February 3, where XRP rebounded from $1.79 to $2.70 amid increased trading activity, resembling behavior from its 2017-2018 cycle. Marks noted that this indicates underlying buying interest, despite the recent bearish trend. While his long-term target of around $99 remains speculative, the token’s bounce from $2.22 to its current levels near $2.30 aligns with his view of growing demand.
“This Candlestick and Volume combo on $XRP should tell it ‘all’. Sellers (Bears) were rejected at a level not seen since perhaps 2017-2018. The bulls showed a dominant presence, so despite the recent price action, they may be poised to take control!”
At the time of publication, XRP was trading at $2.22, showing a modest recovery from recent lows. Challenges remain, including regulatory uncertainties and competition from stablecoins, but the asset’s ability to hold key chart levels has kept some traders engaged. ETHNews analysts stress that maintaining support above the triangle’s line is crucial to avoid deeper declines, while a breakout above $2.60 could signal renewed upward momentum. Traders are now closely monitoring March price movements, as technical indicators and order book data are likely to shape short-term sentiment. The token’s ability to sustain current support levels or break through resistance will be key in determining its future trajectory.
