Eseandre Mordi
XRP is showing signs of stabilization after a prolonged pullback, with price holding firmly above a critical support zone on the monthly chart. Crypto analyst Cantonese Cat suggests that despite recent downside pressure, the broader structure remains technically intact - keeping higher targets in play.
XRP Prints Sharp Expansion Followed by Compression
The chart shows a strong impulsive move that drove XRP from sub-$1 levels to above $3, followed by a steady corrective phase. Rather than collapsing, price has been printing a series of lower highs while compressing into a defined range.
Recent candles indicate reduced volatility, with XRP consolidating above multi-year support just above the $1.15-$1.30 region. This zone aligns precisely with the 0.5 logarithmic Fibonacci retracement level, which is currently acting as support.
XRP Support Confluence Holding the Structure Together
A key feature of the current setup is the confluence between horizontal support and the Supertrend indicator. The Supertrend remains positioned below price, continuing to act as dynamic support on the monthly timeframe.
The market is no longer in impulsive decline. It is in a phase where structure, not momentum, will decide what comes next.
This alignment - combined with the 0.5 Fibonacci level - reinforces the idea that XRP is holding a structurally important zone rather than breaking down. Price has also remained well above the macro base near $0.38, preserving the broader higher-timeframe structure.
The Level That Now Defines XRP Direction
The current range is critical for XRP's next move. Price is sitting at a midpoint where continuation or further downside will be determined by how this support behaves.
If XRP continues to hold above this region and begins to stabilize, the structure remains consistent with a continuation pattern. However, failure to maintain this level would shift the structure toward deeper retracement. Analysts tracking XRP nearing a major breakout after six years of compression point to sustained consolidation as the typical precursor to expansion phases.
Conditional Path Toward $6 Target
The chart outlines a potential upside scenario if XRP reclaims its previous highs. A breakout above the all-time high would open the path toward the 1.272 logarithmic Fibonacci extension - placing the next major target near $6.
This projection is conditional and depends on price maintaining current support and eventually breaking higher. Broader XRP analysis continues to highlight how an XRP triangle breakout points to higher targets when key retracement zones hold firm over multiple monthly closes.
Holding key retracement zones can precede large upside moves - but only if the structure remains intact going forward.
For now, XRP is holding a technically significant level. The setup is not bearish by default - it is a structural test, and how price responds here will define the next meaningful move.
Eseandre Mordi
