A technical analysis has found that Ripple (XRP) must break through resistance near $1.50 in order to reverse its downtrend and turn to a rebound. With further downside risk still in play, holding the $1.0478 support level has been presented as the key condition that will determine the future direction.

Cryptocurrency analyst EGRAG CRYPTO laid out a rebound scenario for XRP based on the descending trendline and horizontal support line on the daily chart. The price shown on the chart is $1.3220, which differs from the current live market price.

▲ $1.50 Resistance Above, $1.0478 Support Below

The analyst identified $1.50 as the first resistance level, explaining that this is the zone where a lower high is forming compared to the previous $1.65-$1.70 range. The long-term descending trendline on the chart passes near $1.50, making a breakout above this price level a critical observation point.

On the downside, the analyst flagged the $1.05-$1.15 zone as an area of interest, specifically marking $1.0478 as the final double-bottom test line. The analyst stated that if the price continues to fall below this level, the proposed rebound scenario would need to be reconsidered.

▲ The 'Yellow Projected Path' Is an Assumption, Not a Confirmed Forecast

The yellow projected path drawn on the chart depicts a pattern of repeated declines and rebounds followed by an upward move. However, this is merely a path assumed by the analyst, not an actual price movement or a confirmed forecast. As no specific calculation basis has been provided, it is also difficult to view it as a definitive target price.

Ultimately, the core of this analysis lies in the conditions rather than the upside targets. What must be confirmed is whether the $1.50 resistance is broken to the upside and whether the $1.0478 support is held to the downside. Simply reaching these price levels cannot be taken as confirmation of a trend reversal or a successful rebound, and the market must also watch closely what impact a landslide victory for the U.S. Democratic Party may have.

[This article was written with partial assistance from AI. It does not recommend buying or selling any specific cryptocurrency, and investment decisions and responsibility rest solely with the investor.]