XRP Rebounds From Key Regression Band Near $2.07

XRP has reached a critical price area as the market tries to recover from a multi-month decline, now trading just above the $2.07 region. The current move resembles the five-wave corrective structure that played out between January and April 2025. Recent price action shows XRP reacting at the mid-regression band of the Gaussian Channel, an area where buyers previously stepped in.

XRP has repeatedly respected this multi-month support zone, forming similar lows before rallying. The chart shows descending resistance being broken, a pattern that also occurred during the earlier correction before bullish continuation. XRP’s current structure displays the same five-wave sequence into support, with the latest touch aligning almost exactly with the $2.07 level. Market participants are watching this area closely as a potential double-bottom formation takes shape.

The broader context reflects a long consolidation where XRP struggled to reclaim higher resistance zones, particularly the descending trendline that capped advances for months. Now that XRP has moved above that line and is holding above multi-month support, the market is evaluating whether the asset can build a base for renewed upward movement. The candle structure mirrors conditions that preceded a significant advance earlier this year, when XRP rallied sharply after defending a similar support level.

This matters because XRP’s reaction around $2.07 could set the tone for its next major move. Holding this level would strengthen bullish sentiment and reinforce long-term support reliability, while failure to maintain it would raise the risk of renewed downside. With market participants monitoring the potential double-bottom setup, price stability in this zone may help define momentum in the coming weeks.

source: ChartNerd