Bertrandtissotgm outlined why XRP is undergoing a correction and mapped a possible final dump that could set up a 2026 rally, posting a chart analysis that traders are following closely. The token entered a purple descending channel after reaching $3.67 in July 2025 and fell from a recent peak of $2.41 on January 6 to $2.10, a drop of about 12.8% (see the chart analysis).
Price currently trades inside the purple channel after prior activity in red and green channels that traders view as key zones for momentum shifts. The upper trendline of the purple channel aligns with the 200-day exponential moving average at $2.33, creating a significant technical barrier, while the 20 EMA at $2.03 and the 66 EMA at $2.12 sit below the 200 EMA, indicating bearish bias.
Lower-timeframe indicators show continued divergence and On-Balance Volume (OBV) suggests insufficient buying strength to overcome resistance at this stage. The analyst identified two support areas: red channel support at $2.12, which was briefly breached during a recent 7.5% 24-hour drop, and green channel support near the psychological $2 mark, roughly 5% below current prices.
The view presented treats this pullback as a healthy retracement and consolidation rather than a trend reversal, with the breakout timeline hinging on whether XRP holds support above $2 or requires deeper volume to resume upward momentum; a visual reference appears in the chart image.
