XRP Tests Golden Pocket Support After 15% Weekly Drop
The post XRP Tests Golden Pocket Support After 15% Weekly Drop appeared first on Coinpedia Fintech News
Amid an overall crypto market decline, the XRP price has fallen nearly 15% this week to the $1.53 zone. Despite the drop, veteran trader CasiTrades sees signs of a short-term recovery towards $2 as XRP tests a key technical support area known as the golden pocket.
XRP Rally Fades as Market Sentiment Turns Bearish
XRP started 2026 on a strong bullish note, rising nearly 30% to reach a high of $2.41 in the early weeks of January. This rally was mainly driven by growing regulatory clarity and optimism around new XRP ETF approvals, which attracted millions of dollars in steady inflows.
However, that positive momentum did not last long. As market excitement cooled, many investors began booking profits, leading to a broader sell-off. XRP was not spared from this shift and soon slipped back below the important $2 level.
Fast forward to today, XRP is trading near $1.60 and showing early signs of stabilization after recently falling to a low of $1.53.
Important Resistance Levels to Watch for XRP
As per Casitrade’s analysis, XRP has completed a major downside move and is now sitting in what traders call the “golden pocket” support zone.
Looking at her XRP price chart, the recent drop followed an Elliott Wave pattern, with Wave 3 ending near the $1.55 to $1.60 area. This level acted as solid support and helped stop the fall.
Now traders are watching for a possible Wave 4 relief rally. As the first key resistance level to watch is around $1.78, which matches the 0.382 Fibonacci retracement and could act as a barrier.
Further, CasiTrades explains that Wave 2, earlier in the cycle, was very shallow. In Elliott Wave theory, when Wave 2 is shallow, Wave 4 usually becomes deeper. That means XRP could push higher than many expect during this relief rally.
If buyers step in with strength, XRP could move toward $1.93 or even $2.03. The $2.03 level is especially important because it represents the macro 0.5 retracement zone.
Why $2.03 Is a Critical Level for XRP
CasiTrades analysis highlights that XRP must reclaim $2.03 and hold above it to change the current bearish structure. If the price successfully breaks and stays above this level, it would reduce the chances of another drop toward $1.55 or lower.
A strong move above $2.03 could also increase the possibility that the expected final bearish wave fails, opening the door for a larger recovery.
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