Experts say XRP is poised to recover after a few challenging weeks and are pointing to a key support zone that could determine its next move.
According to the TradingView chart, XRP has found a solid support level just above $1.94. This level has played a significant role before, and its presence in an uptrend is always a good sign. It is one of the most important price zones on the current chart.
XRP, like the rest of the crypto market, has remained on the defensive amidst ongoing volatility and macroeconomic uncertainty. While the market as a whole is down, selling pressure appears to be easing around $1.94. This is precisely where buyers are stepping in.
Martinez says that if XRP wants to maintain its bullish structure, it's important for it to hold and close above the $1.94 level. If we can continue to defend this level, a recovery towards the $2.40-$2.50 range, which coincides with previous resistance levels and short-term technical targets, could occur.
However, the analyst says that if this support level cannot be maintained, the entire recovery theory could become invalid, creating new downward pressure on XRP. If this happens, the market could retreat to lower demand zones before we see a real recovery.
Currently, XRP is at a technical crossroads. The token's next move will likely depend on buying strength around $1.94. If market conditions continue to test sentiment, the token may remain stuck in consolidation.
*This is not investment advice.
