XRP rebounds 68 percent from peak and holds key support! What do the latest moves signal?

XRP continues to maintain its footing in the $1.10 to $1.30 price range after retreating sharply from its cycle high of $3.66, a drop of 68 percent. On the weekly charts, this band has emerged as a primary support zone, drawing attention from analysts who suggest the correction may now be in its final stage.A critical accumulation zone for XRPKey resistance at $2.50 and $3.66Debate grows over weak market sentiment A critical accumulation zone for XRPMarket observers point to the $1.10 to $1.30 area as a persistent accumulation region for XRP. The coin’s resilience here—despite a steep pullback—signals that the overall higher timeframe structure remains intact for now.With both short-term traders and long-term analysts focusing squarely on this range, the importance of holding this band is paramount. Should XRP slip below it, the current technical outlook could weaken, and attention would likely shift to deeper support zones.On the weekly chart, XRP has managed to defend the $1.10 to $1.30 range following the 68 percent correction from $3.66, and the next phase appears to hinge on the price reaction within this key area.According to shared technical levels, if a downside break occurs, the $0.40 to $0.60 range stands out as a deeper support. However, analysts are first watching to see if XRP can maintain its current accumulation zone. Key resistance at $2.50 and $3.66Should upward momentum develop, the first significant resistance emerges between $2.00 and $2.50. A move into this zone would be seen as one of the first signs that buyers are regaining strength after a prolonged downturn.Above this, the $3.66 level—XRP’s last cycle peak—remains a critical benchmark. Should the price revisit this point, market participants will be watching closely to see whether it can surpass its previous high. Next, analysts are monitoring the $5.00 to $6.00 range, with $8.17 identified as a potential Fibonacci extension target should momentum increase.Glossary: In technical analysis, the Fibonacci extension is a tool for estimating potential upside targets. It draws on ratios derived from previous price moves to identify zones where resistance may emerge.Debate grows over weak market sentimentThe topic of persistent weak sentiment around XRP has become a leading theme in recent analyses. Some commentators describe the current setup as one of the most overlooked accumulation patterns for XRP in years.Certain research notes that XRP has exhibited such pronounced weakness only on three occasions during its 13 year history. In each of those prior instances, market participants paid little attention at first—until momentum caught fire and price action surged thereafter.Some analysts maintain that XRP has looked this weak only three times in the last 13 years, but stress that in earlier episodes the market only woke up to the formation once price movement had begun in earnest.Nonetheless, sentiment alone is not seen as sufficient to confirm a lasting XRP rebound. Sustained positive momentum will require XRP to uphold the $1.10 to $1.30 range, and afterwards, to claim higher resistance levels once again.Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.