The cryptocurrency market is seeing a tentative recovery as we enter the new week. Following significant volatility that saw Ethereum plummet by over 29%, XRP has also experienced a drop of about 18%. Despite this correction, recent price activity suggests that XRP may be poised for a major shift if support levels hold. 📈 📉
On the daily chart, XRP is currently navigating within a right-angled ascending broadening wedge pattern — a structure often acting as a high-volatility compression zone before a significant breakout. After a strong surge, XRP encountered resistance near $3.57, triggering a steep 46% pullback. This has brought price into a critical demand region around $1.93.
Remarkably, the correction triggered an immediate response from buyers who pushed XRP towards $2.09. This signals that strong demand remains active and suggests bulls are not ready to give up on key support yet.