During Wednesday's market recovery, XRP rose 7.9% to a one-week high of $1.47. The cryptocurrency has been hovering between $1.35 and $1.50 for the past three weeks, but has failed to break above the upper end of the local range.
As prices approach this resistance level again, analysts are suggesting that a short-term rally toward another important level is in the offing, potentially setting the stage for altcoins to determine the next market direction by the end of the second quarter.
Related books
XRP predicts breakout in March
On Wednesday, analyst Chartnado called for a short-term 20% to 30% rally in XRP within the next month or two, asserting that it is “premature to ease” six months of downward pressure.
In a video analysis, market observers asserted that the cryptocurrency, after losing the $1.80 to $2.00 area as support in January, is looking to build a foundation within that area to retest the key resistance level.
As he explained, XRP is about to form an ascending triangle or double bottom pattern on the daily time frame, and the neckline of that formation is around the $1.50 mark.
Based on this, if the altcoin “coils inside this triangle and eventually breaks out heading into March, we could see a rebound here to $1.80,” retesting this previous support area as resistance.
On the other hand, if the cryptocurrency is forming a double-dip pattern, the analyst said, “even if it returns to the $1.20 level, it will mark an even higher low before a short-term bullish reversal.”
In either case, a breakout of the $1.50 resistance would enable a move into the $1.80 to $2.00 area, but he sees this area as a “key inflection point” as XRP holds it as support for 400 days.
It will be a major turning point. So, potentially, we could respect some sort of upward channel here as well, leading into March, which could lead us all the way to the $1.80 resistance. (…) If XRP respects these trend lines to some extent, it is resistance. Return to support.
Do you have an important retest coming up?
Despite the bullish outlook, ChartNerd warned that XRP still faces up to 50% correction risk. According to analysts, a retest of $1.80 will determine whether this area turns into resistance and the price continues to fall further, or if it is regained and pushed to higher levels.
Regarding X, he added, “If the rally to $1.80/$2 develops in March or April, it will be a clear sign of whether or not it is a possibility of $0.70. A clean break above $2 would indicate the strength and ineffectiveness of that possibility. Rejecting it as resistance would potentially trigger a decline to $0.70.”
Retrieving this key area as support could open the door for a retest of the golden $2.40-$2.70 range, which has not been visited since the crash in Q4 2025. It may also indicate that the correction period may be over.
Related books
However, he cautioned that the recent loss of the 200-week exponential moving average (EMA) on the weekly time frame and confirmation of it as resistance would signal a significant decline towards the historical $0.70 area.
In previous cycles, when XRP failed to maintain this level, it entered a major correction, plummeting around 50% to the bear market bottom. Therefore, he stressed that in order to negate this potential outcome, cryptocurrencies need to convincingly regain their critical territory.
As of this writing, XRP is trading at $1.46, up 2.7% on a weekly basis.
Featured image from Unsplash.com, chart from TradingView.com
