With Ripple (XRP) trapped in a narrow box range around $1.24-$1.25, market participants are divided over the possibility of a short-term rebound. After partially recovering from a recent sharp decline, the price has repeatedly stalled around $1.26, failing to find clear direction.

Rebound After Sharp Drop... But the $1.26 Wall

XRP rose to approximately $1.31 on the 29th of last month before experiencing a steep decline the following day, the 30th. At the time, the price fell to around $1.205, marking a drop of roughly 8% from its high. A subsequent rebound recovered the price to about $1.265 within hours, but it failed to extend gains further.

BytetheByte: "XRP Battling Between $1.235 and $1.26 Over the Past Four Days"

Community analyst BytetheByte explained that XRP has mostly moved between $1.235 and $1.26 over the past four days. Notably, on the 31st of last month and the 2nd and 3rd of this month, upside attempts were limited near $1.26, while buying interest flowed in whenever the price approached $1.235. According to the analysis, these movements show that buying and selling pressure are facing off within a defined price range in the short term.

Shaun Analysis: "Entry at $1.2520, Target $1.2640"

Meanwhile, some analyses focused on the possibility of a rebound. Community contributor Shaun Analysis, citing the one-hour candle chart, emphasized that buying interest flowed in quickly after XRP fell to $1.2355. He stated that he set an entry price of $1.2520, a target price of $1.2640, and a stop-loss level of $1.2340. This is merely the analyst's personal trading strategy and not a forecast guaranteeing an actual price increase.

Key Watch Points: Break of Support/Resistance and Trading Volume

The price levels common to both analyses are the lower support near $1.235 and the upper resistance around $1.26. In the short term, the focus is on whether repeated selling pressure near $1.26 will continue, or conversely, whether the buying interest confirmed near $1.235 will hold. However, observers note that the recent narrowing of price volatility alone cannot determine the future direction, up or down, and that even if XRP breaks out of the narrow trading range, trading volume and price flow should be examined together.

[This article was written based on a CoinMarketCap community post provided, with partial AI assistance. Price forecasts and trading strategies reflect the author's personal views and do not guarantee investment returns. Investment decisions and responsibility rest with the investor.]