Amid a significant price correction from its July 2025 cycle peak of $3.6, XRP has seen its value decline by over 50%. Despite this, prominent crypto analyst Crypto Luke maintains a bullish outlook, asserting that the price is unlikely to crash below the critical $1 support level.
Crypto Luke points to a broadening wedge pattern that XRP has been defending, which typically indicates substantial underlying market demand. This defense, he argues, helps bulls maintain price above major support levels, providing a foundation for any potential rally. Further technical analysis reveals that the XRP Stochastic indicator is turning bullish, and the Relative Strength Index (RSI) remains "solid," suggesting upward momentum is more likely than a further downward move.
The analyst attributes recent price recovery to a broader market uptick led by Bitcoin and Ethereum, noting that liquidity is starting to flow back into XRP. This is corroborated by data showing XRP ETFs have seen more inflows than outflows this month, indicating institutional buying interest. "I’m not saying it goes crazy tomorrow… but I’d rather be here stacking than chasing it later," Crypto Luke stated.
Concurrently, market analyst GainMuse highlights a significant technical development: XRP has successfully flipped the $1.42–$1.44 resistance zone into support. This move, characterized as a "textbook liquidity sweep," signals stronger market participants may be entering. After weeks of tight consolidation, XRP broke out, briefly touching $1.49 before settling near $1.44, still showing a 6.76% weekly gain.
The current focus is on whether XRP can sustain above the $1.40-$1.44 support zone. If it holds, analysts see the next major resistance at $1.70. A breakout above this level with strong volume could signal the start of a more sustained upward trend. Some long-term analyses even reference an 8-year base formation, with optimistic scenarios suggesting potential for significantly higher prices if market conditions align.
