The XRP price tests golden resistance amid weekly pressure

The XRP price experiences a significant short-term correction, currently around $1.35, reflecting a recent weekly decline. According to data from Bijie Network, this weakness has brought the cryptocurrency close to the support zone known as the “golden pocket,” a critical technical area between $1.53 and $1.60 that has historically served as an important containment level. Analyst CasiTrades notes that this movement aligns perfectly with the Elliott Wave Theory pattern, offering valuable insights into market dynamics.

The “golden pocket”: A critical support level

The golden pocket zone represents a price region where multiple technical support levels and areas of historical interest often converge. For XRP, this range between $1.53 and $1.60 constitutes a key defensive line that could channel a potential rebound. According to the technical analysis cited, the price reaching this zone suggests that the room for further decline is limited, indicating a possible reversal opportunity.

Rebound projections and technical confirmation

If XRP’s price manages to rebound from the golden pocket level, analysts project bullish movements toward $1.78 initially, with a potential extension up to $1.93. These projections are based on wave analysis and observed patterns in the price structure. However, the true test of a trend reversal depends on a decisive and sustained move.

Crucial requirement: Recover the $2.03 level

To confirm a structural break that fully dispels bearish risks, XRP’s price must decisively break through the technical level of $2.03. This threshold acts as an important resistance that, once surpassed, would open the way for a deeper change in the cryptocurrency’s technical structure. As long as the price does not recover this critical zone, the bearish trend will remain a latent threat, although the golden support provides a defensive base for short-term positions.