TLDR
- XRP has declined over 13% since hitting a local peak at $1.54 this month.
- Technical analysts identify pattern similarities with the structure preceding 2024’s 580% surge.
- The digital asset recently cleared a descending resistance line before moving into correction territory.
- Crypto analyst Mikybull suggests the ongoing retracement may validate breakout momentum.
- Ali Martinez cautions that XRP faces risk of dropping to $0.73 if critical support zones break.
The XRP price has faced selling pressure following its climb to a local peak of $1.54 earlier in May. The digital asset now hovers around $1.3295, representing a decline exceeding 13% from the monthly high. This retracement occurs amid widespread weakness across cryptocurrency markets affecting numerous leading digital currencies.
Crypto market observers have identified a technical formation bearing resemblance to the chart structure that appeared before XRP’s significant advance in November 2024. Analyst Mikybull indicates that XRP has already fulfilled two out of three technical criteria that preceded the earlier explosive price movement.
XRP Price Follows Previous Trendline Breakout Sequence
According to chart analysis shared by Mikybull, the initial requirement involved clearing a downward-sloping resistance line. This trendline had capped XRP’s upward movement for approximately twelve months following the asset’s decline from $0.92 in July 2023.
XRP successfully breached that resistance barrier when prices advanced to roughly $0.63 during July 2024. Following that breakout, the cryptocurrency experienced a pullback that functioned as confirmation of the penetrated trendline. XRP subsequently found stability above key support before launching into a substantial uptrend.
Mikybull observes that the present XRP price behavior shows comparable characteristics. After retreating from the July 2025 high of $3.6, XRP developed another descending trendline through a series of declining peaks. Earlier in May, XRP penetrated this trendline during a weekly advance of approximately 6%.
The current pullback from $1.54 represents what Mikybull identifies as the second phase in this technical sequence. “The next phase will be a bullish move,” Mikybull explained when analyzing the formation.
November 2024 Surge Serves As Historical Comparison
The earlier XRP advance initiated after the cryptocurrency completed an identical series of technical requirements in late 2024. Following confirmation of support above the breakout zone, XRP accelerated from approximately $0.5 in November 2024 to nearly $3.4 over a two-month span.
This advance delivered returns approaching 580%. Several market observers suggest that replicating similar percentage gains from current XRP levels would position the asset near $9. Nevertheless, technical analysts emphasize that historical chart patterns may produce varying results under different market conditions.
Weekly timeframe analysis reveals that the Moving Average Convergence Divergence indicator, widely referred to as MACD, has developed a configuration resembling the setup observed ahead of the 2024 rally. Market participants frequently track MACD signals for indications of potential momentum transitions.
While bullish parallels exist, XRP faces vulnerability to further downside if key support zones fail to maintain during the current retracement phase.
Critical Support Zones Under Observation During Correction
Crypto analyst Ali Martinez recently highlighted that XRP has slipped beneath the midpoint of its monthly parallel channel structure. Martinez suggests that inability to reclaim this level may leave XRP vulnerable to extended declines.
Martinez projects that XRP could retreat toward $0.73 should the asset maintain trading below the channel’s middle boundary. This assessment reinforces caution among market participants tracking whether XRP can preserve the recent breakout territory.
Broader cryptocurrency markets have encountered heightened volatility throughout recent weeks, amplifying distribution pressure across leading digital assets. Bitcoin and Ethereum have similarly recorded retracements during this timeframe.
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