XRP faces the possibility of declining toward $1.10 if it fails to maintain support at $1.20, according to crypto analyst Zach Humphries. As XRP traded close to $1.24, Humphries described the recent price movement as an effort at recovery rather than a clear shift to an upward trend.
Uncertain momentum after key range breakdown
After slipping below a crucial trading range, XRP managed a partial rebound from near $1.20, temporarily easing pressure on the token. However, the analyst noted that if XRP closes below the $1.20 level on a daily basis, its short-term outlook could deteriorate further.
Humphries outlined three possible price scenarios for XRP. The most likely, he suggested, is a period of sideways trading, with XRP fluctuating between $1.20 and $1.24 but struggling to break through $1.30. In this scenario, the token would remain in a consolidation phase without establishing a solid upward trend.
XRP is currently attempting a recovery, but unless it secures daily closes above $1.20 and $1.30, the move lacks confirmation as a true reversal.
Bulls need concrete progress
For a bullish turnaround to take shape, Humphries highlighted several steps. Maintaining the $1.20 support is critical. From there, regaining $1.26 would be the next step, followed by a push above $1.28 to re-enter a previously defined price range.
Consistent daily closes around $1.30 to $1.32, supported by an uptick in trading volumes, could provide firmer evidence of an improving trend. Humphries cited $1.34 as a potential upside level if these recovery signals appear.
| Support/Resistance | Key Levels |
|---|---|
| Immediate Support | $1.20 |
| Consolidation Range | $1.20–$1.24 |
| First Resistance | $1.26 |
| Higher Resistance | $1.28 |
| Breakout Confirmation | $1.30–$1.32 |
| Possible Upside | $1.34 |
| Downside Targets | $1.14, $1.12, $1.10 |
Broader market conditions add pressure
The analyst contextualized XRP’s recent weakness within a broader decline in risk-heavy assets, referencing downturns in Bitcoin, Ethereum, and major technology stocks. Market reports place XRP’s October decline at about 16%, while its year-to-date loss currently stands near 33%.
Broader macroeconomic factors are also affecting the market, with the upcoming U.S. midterm elections highlighted as an important event. Humphries argued that increased clarity over political leadership could boost financial markets, referencing historical data showing the S&P 500 averages a 15% return in the year following midterm elections. However, he stressed that this was not a direct forecast for XRP’s performance.
Despite cautious optimism about potential relief in risk assets over the coming 12 to 18 months, the analyst remained clear that XRP needs to defend the $1.20 level and then reclaim higher price points to establish a durable rebound.
Defending $1.20 and moving above $1.30 to $1.32 are essential steps before any sustainable recovery in XRP can be considered.
Mini dictionary: Zach Humphries is a cryptocurrency analyst known for providing technical analysis and market commentary on digital assets through online platforms.
