XRP Defends Key Support, Analysts Eye $3.60 Rally

XRP has demonstrated resilience in the face of broader cryptocurrency market weakness, successfully defending critical support levels that analysts believe could pave the way for a significant price recovery. The digital asset experienced an 8% decline over the past seven days, mirroring the overall market pullback, but found solid footing around the $2.71-$2.75 range. Popular analyst Ali Martinez specifically highlighted $2.71 as a critical support zone that XRP successfully defended, noting that this technical achievement gives the cryptocurrency a clear pathway to rebound toward $3.60 in the short term.

Another prominent market observer, X user CRYPTOWZRD, identified $2.75 as the primary daily support target, suggesting that one more retest of the $2.88 level could potentially catalyze further price appreciation. The current price action around these key levels has drawn significant attention from technical analysts who see the successful defense of support as a bullish signal. The cryptocurrency’s ability to rebound from last week’s low of $2.78 to current levels around $2.85 indicates underlying strength despite the challenging market conditions.

Beyond the immediate technical picture, several market observers are drawing compelling parallels to XRP’s historical price behavior, particularly the consolidation pattern that preceded its massive 2017 rally. X user Galaxy noted that XRP’s recent price action closely resembles the consolidation phase observed in 2017, shortly before the cryptocurrency experienced what they described as a ‘gigantic rally.’ The analyst added, ‘It will run again above all time highs when people least expect it,’ suggesting that the current period of relative quiet could be the calm before a significant storm.

Dark Defender, another X user who frequently comments on XRP’s price movements, reinforced this optimistic outlook by stating that the asset is nearing completion of its corrective action and is ‘on the verge of a lift-off.’ The analyst provided a specific price target, forecasting that ‘after this consolidation, and reclaiming $3.333, nothing will be able to stop what’s coming.’ These observations from multiple analysts pointing to similar historical patterns have created a sense of anticipation among XRP investors who remember the asset’s previous explosive moves.

The fundamental backdrop for XRP has been significantly strengthened by recent regulatory developments, particularly the successful launch of the first US spot XRP ETF. In mid-September, REX-Osprey introduced XRPR, marking a watershed moment for XRP adoption in traditional finance. The ETF’s debut was notably successful, generating over $37 million in trading volume on its first day alone, demonstrating substantial institutional and retail interest in gaining regulated exposure to XRP.

Rumors circulating in the cryptocurrency community, amplified by X user John Squire, suggest that additional spot XRP ETFs may receive regulatory approval in the United States as early as this week. Such developments would likely increase mainstream interest in the asset and provide additional buying pressure. The successful launch of XRPR has created a template that other financial institutions may follow, potentially opening the floodgates for more investment products tied to XRP. This regulatory progress represents a significant shift from XRP’s previous regulatory challenges and could fundamentally alter the investment case for the cryptocurrency.

The combination of strong technical support, favorable historical patterns, and positive regulatory developments creates a compelling narrative for XRP’s potential price appreciation. While cryptocurrency markets remain inherently volatile, the convergence of these factors has generated unusual optimism among analysts and traders alike. As the market watches for buying pressure to materialize, the $3.60 target represents just the first potential milestone in what some believe could be a much larger move toward new all-time highs.