XRP has declined to a crucial macro support level near $1.88 following a 30-day pullback, drawing intense scrutiny from technical analysts. The token reached an intraday low in the past 24 hours, with data from CoinGecko showing it trading at $1.92 at press time.
Analyst Tara highlighted that the support level is defined by a 0.5 Fibonacci retracement on higher-timeframe charts, a zone that previously served as a pivot point. "Ohhh babbyy… #XRP just reached critical support again at $1.88. This is a VERY strong support level (macro .5!)… Remember, it's always the scariest at support," Tara posted on social media. The analyst emphasized that if XRP holds above this support and avoids establishing a decisive new low, "It's going to get bullish!" with midterm upside targets potentially achievable before year-end.
Will Taylor, founder of CryptoinsightUK, framed the current price zone as the "best buy area" for range traders, citing a well-defined range between approximately $2.01 and $1.60. "We're at the bottom of the range […] this has been the best area to enter […] for the last […] basically year and a bit," Taylor stated in a Dec. 17 YouTube video. He noted that the trade is attractive due to measurable risk-to-reward, not certainty, pointing to ~$1.83 as a remaining area of downside liquidity that could influence stop-loss placement.
Momentum indicators, including the Relative Strength Index (RSI), have entered oversold territory on the 4-hour chart, increasing the probability of a short-term bounce. The current pullback has proceeded without sharp breakdowns below support, with selling momentum appearing to decrease as price compresses at this zone.
Taylor's near-term bullish trigger is a reclaim of the ~$2.07 level. He argues that significant short exposure has built up during the drawdown, and a move above that level could force a covering squeeze, potentially pushing price to $2.58-$2.60 quickly. His view is nested in a broader thesis that crypto is "mispriced" and in a "deep value zone" after decoupling from other asset classes since the October 10 crash, with overly bearish sentiment setting the stage for an upside squeeze.
Analysts agree that XRP's reaction at this support is more significant than the level itself. A breakdown below the current range would invalidate the bullish setup and shift focus to lower retracement areas.
