XRP declined on Sunday, continuing its move into a key historical demand zone. Analysts note the asset maintains a bullish higher-time-frame structure despite trading 60% below its all-time high. They highlight a confirmed macro breakout from a descending wedge pattern, which previously catalyzed a 600% move. Traders are now watching the $1.00 to $1.60 reaccumulation range for directional cues.
XRP price dropped as the digital asset extended deeper into a crucial demand zone. Analysts note this area has historically played a significant role in past cycle recovery patterns.
Analyst Crypto Patel highlighted that XRP trades 60% below its all-time high but maintains a positive trend. “XRP has broken through a descending wedge pattern that resulted in a 600% move,” he stated on social media.
He described this breakout as a key macro shift in market structure. The token is now consolidating within a defined $1.00 to $1.60 reaccumulation range.
Crypto analyst BitGuru mentioned that XRP has fully unwound its consolidation. The asset is entering a historical area of demand where past support has been strong.
The speed of the price movement is reportedly slowing down. This indicates market participants are carefully analyzing the next potential move.
According to CoinMarketCap data, XRP was trading near $1.58. This represented a 24-hour decline of over 3% and a monthly drop of nearly 17%.
Trading volume increased by over 34% to approximately $5.93 billion. This suggests expanding activity as the token approaches its long-term demand zone.
Analysts anticipate upcoming sessions will determine if the token maintains current levels. Traders are closely monitoring the $1.00 to $1.60 range for a price reaction.
