XRP price is approaching a breakout of a descending trendline that has extended since January, and breaching this pattern could spark a fresh rally. Previously, XRP remained trapped in a down channel, and with funding rates sliding and leveraged longs liquidating, the drop exceeded normal spot market selling pressure, reinforcing a bear-dominated regime.
On the daily chart, the price has now neared this key resistance line, and historical data shows that XRP often gains strong rebound momentum after breaking similar downward trendlines. At the time of writing, XRP is trading at $1.36, sitting precisely at a major support level within the Murrey Math framework, a zone commonly monitored for potential reversals.
Should price convincingly clear the $1.36 barrier, the technical targets shift toward $1.75—the upper range in the Murrey lines—and could even set sights on the $1.95 strong reversal point. Conversely, a failed breakout risks renewed pressure and a pullback toward the $1.17 support area, where bulls may look to rebuild a defense.
It is worth noting that ongoing geopolitical risk, particularly uncertainties in the Middle East, continues to weigh on overall risk appetite. Although recent weekend volatility has eased, sentiment remains cautious, with traders largely awaiting clearer signs of détente before loading up on risk assets.