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Analyst CrediBULL believes $XRP may continue trading within its current range before making a decisive move in either direction.
$XRP fell 2.10% over the past 24 hours to trade at $1.19. The decline comes amid a market pullback. Bitcoin dropped 4% to $66,400 during the same period, while the total crypto market capitalization declined by 2.33%.
Key Points
- $XRP fell 2.10% to $1.23 as broader crypto markets weakened, with Bitcoin and total market cap also declining.
- Analyst CrediBULL expects $XRP to remain range-bound and says the asset is not yet ready for a major breakout.
- $XRP could continue trading between roughly $1.11 support and $1.67 resistance before a clearer trend emerges.
- The recent weakness appears tied to broader market pressures, not any $XRP-specific bearish development.
CrediBULL Sees Similarities Between $XRP and $HBAR
In a recent post on X, analyst CrediBULL said he has been closely monitoring $XRP’s lower-timeframe (LTF) trading range. He noted similarities between $XRP’s current structure and $HBAR’s recent price action.
According to the analyst, $HBAR has already swept the highs of its range. $XRP, however, remains trapped between key support and resistance levels.
Sharing a chart of $XRP/USDT, CrediBULL said he expects the token to eventually take both the highs and lows of its current range. However, he is uncertain which side will be reached first.
Despite that expectation, CrediBULL does not believe $XRP is ready for a major expansion move. Instead, he expects consolidation to continue in the near term.
More Volatility Expected Before a Breakout
CrediBULL’s chart highlights resistance near $1.67 and support around $1.11. He suggested $XRP could continue moving between these levels before establishing a clearer trend.
His view is partly based on his outlook for the $XRP/BTC pair. According to CrediBULL, that chart does not yet support an immediate bullish expansion phase.
As a result, traders may experience more “chop” and sideways volatility. Buyers and sellers are still battling for control within the current range.
$XRP Weakness Mirrors Broader Market Conditions
The recent decline in $XRP follows broader market forces. Bitcoin and the wider crypto market have faced pressure from continued institutional selling through U.S. spot Bitcoin ETFs. For instance, this new month has already seen more than $1 billion in ETF outflows.
The trend reflects a risk-off environment as investors reassess their exposure to digital assets. Market participants have also pointed to expectations that interest rates could remain elevated for longer. At the same time, capital continues to flow into rapidly growing artificial intelligence-related stocks.
In sum, $XRP continues to struggle in recent sessions, but the decline is driven by broader market weakness rather than any $XRP-specific issue. For analysts like CrediBULL, traders should watch the current trading range as it tests support and resistance levels before making its next major move.