As of March 18, XRP was trading at $1.50, down approximately 1% from the previous day, showing increased selling pressure after a sharp rebound from $1.36 to near $1.62. Trading volume on the current 4-hour candlestick chart has climbed to 11.59 million, significantly higher than the 7.10 million recorded earlier in the trading session, indicating greater market participation in this pullback.
Current Structure Analysis
According to EGRAG Crypto's analysis, XRP is approaching what the analyst calls "Zone 1," a resistance band between $1.65 and $1.70 that has defined the price ceiling for weeks. The current pullback occurs below this zone, with prices nearing the bottom of an ascending triangle formed since early March.
This triangle structure remains intact. The higher lows throughout the consolidation period indicate buyers are still willing to step in as prices gradually rise, while the flat resistance at the top signifies accumulating liquidity above the current range. This combination typically resolves with a directional breakout rather than a gradual grind, and the direction of such a breakout is the market's current pricing focus.
Framework of Two Zones
Understanding the distinction between Zone 1 and Zone 2 is crucial for predicting different future trajectories for XRP.
Breaking through Zone 1, from $1.65 to $1.70, is the first step and confirms the ascending triangle's upward resolution. This move is driven by the existing regulatory narrative and the established momentum within the structure. While significant, it is not the beginning of a larger expansionary trade.
Zone 2, above $2.60, requires entirely different conditions. Institutional capital inflows via ETF products need to grow substantially, Bitcoin's dominance needs to stabilize or decline, capital needs to flow into altcoins, and XRP needs to establish a sustained weekly close above the $1.85-$2.00 range as a new foundation. None of these conditions are currently met, but the regulatory clarity established on March 17 serves as a foundation that makes all conditions more achievable than they were a week ago.
Key Takeaways
The $1.50 level is the critical point that must be defended currently. A clean daily close with sustained high volume would weaken the triangle structure and tilt the short-term trend towards a rejection scenario, with $1.40 becoming the next significant support.
On the upside, bulls need to reclaim $1.55 within the next few trading days and push towards the $1.65 resistance zone. The overall structure remains bullish, but whether the market will be given time to develop or forced into an earlier resolution remains an open question.