Ripple’s XRP is hovering near a decisive support area around $1.25 after a hack-driven sell-off rattled the broader cryptocurrency market. The token dropped from roughly $1.30 to a multi-month low near $1.19 on Friday before rebounding to $1.25, leaving traders focused on whether the August recovery can survive or a deeper retracement will follow.
On the daily chart, XRP has been retracing its rally from the $0.99 low to the $1.70 high. It has lost the 0.5 Fibonacci retracement at $1.34 and is now testing the $1.25 zone, which coincides with the 0.618 retracement and a previous demand area from mid-September. Yesterday’s candle briefly wicked to approximately $1.20, tagging the 0.702 level, before buyers pushed price back. Analysts say a daily close below $1.20 would expose the $1.10–$1.14 demand zone, while a recovery would need to reclaim $1.34 and then the $1.40 supply zone.
On the 4-hour chart, XRP remains inside a descending channel that began after the late-September peak near $1.65. The latest rebound was rejected near $1.33, and the lower boundary sits around $1.17. The short-term structure still favors sellers, with a break above the channel and the $1.40 supply zone required for a meaningful shift.
Despite the weakness, analyst EGRAG CRYPTO maintains longer-term targets of $8, $13, and $30, arguing that a monthly close above the “magic number” of $1.65 could unlock a generational breakout. He points to XRP’s position between the 33-month and 77-month moving averages, previous accumulation phases in 2014, 2017, 2020 and 2023, and a separate $13.68 projection. Meanwhile, analyst CasiTrades argues XRP’s technical structure had already weakened before the Binance hack news, with repeated tests of a lower trendline since October 24 and corrective Wave 2 structures already approaching deeper Fibonacci levels.
