XRP holds above $0.98 support, but analysts warn recovery needs breakout over $1.16

XRP, after defending its first major support zone, is now approaching a critical technical threshold. Trading at approximately $1.06, the crypto asset remains above the $0.98–$0.99 region. However, indicators suggest that the overall technical weakness has not yet been fully resolved.

Technical landscape: $1.16 stands out as a turning point

According to market research platform More Crypto Online, XRP’s broader structure remains tilted downward. The platform highlights that simply holding the support zone is not enough to confirm a sustained recovery; reclaiming stronger resistance levels is needed for such confirmation. Noted for its focus on wave-based technical analysis, More Crypto Online’s observations suggest the bear trend persists unless key levels are surpassed.

According to Elliott Wave analysis, the main scenario still sees a risk of further pullback. The $0.98–$0.99 range is being watched as the first significant demand zone, and unless there is a clear move above $1.16, the downside structure remains in place.

Mini glossary: Elliott Wave analysis is a technical approach linking price patterns to investor psychology, interpreting market movements through wave structures. The method uses support and resistance levels to project likely next moves in price.

Seller resistance persists despite short-term rebound

Even if XRP sees a short-term uptick, a stronger resistance zone lies between $1.27 and $1.42. This area is considered a key supply region, where sellers may reassert themselves. If the price fails to break through this band, any upward movement is expected to be interpreted as a brief relief rally rather than a lasting trend reversal.

Downside risks: eyes on the $0.74 level

If the $0.98–$0.99 support zone is breached, renewed selling pressure could intensify. In this case, a pullback toward $0.74 could come into play, which More Crypto Online identifies as the next crucial support area.

As a result, market focus is converging around two key levels. A move above $1.16 could signal improvement in the technical outlook, while losing the current support would increase the probability of a deeper correction.

Moreover, XRP has historically shown robust performance in July, with past seasonal trends occasionally giving buyers an edge in the short term. Still, unless major resistance levels are broken, the overall technical picture remains cautious, urging patience among traders.

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