TLDR
- Marcus Corvinus stated that XRP may experience a short-term pump but the overall trend remains bearish.
- XRP has recovered over 4% from its recent low of $1.82 and is now trading around $1.90.
- The coin has tested the $1.82 support level three times and held above it each time.
- Corvinus explained that XRP must break above $1.98 to escape the descending channel.
- The expert emphasized that any upward move now is likely a lower high within a larger downtrend.
XRP price has seen a small recovery from recent lows, but analysts warn the broader trend remains bearish. Market expert Marcus Corvinus stated that XRP may witness a short-term pump. However, he stressed that the coin is still trading within a clear descending structure.
XRP Price Holds Above Key Support but Faces Resistance
XRP price recovered from a low of $1.82 and is currently trading around $1.90 after gaining over 4%. This price recovery has reignited optimism about a possible retest of the $2 mark. Yet, analysts continue to stress caution as resistance remains strong above current levels.
Corvinus highlighted that XRP has tested the $1.82 support three times but failed to break below it each time. The first test occurred on November 21 at $1.82, followed by $1.77 on December 19. The latest attempt came three days ago when XRP dropped back to $1.82.
The expert believes this price action shows short-term strength and could allow for a minor rally.
He said, “I would not be surprised by a relief pump from current levels.”
Still, Corvinus warned that the overall trend remains downward despite this show of support.
Descending Channel Keeps XRP in Bearish Territory
XRP price continues to trade within a descending channel since recovering from the October 10 drop to $0.77 on Binance. Corvinus explained that this pattern continues to pressure the asset, keeping any upward moves contained. He said that without a breakout, XRP remains under bearish control.
The analyst stated that XRP would need to reclaim $1.98 to break the descending trendline. Current movement suggests the coin is in a decision zone, and the next move could be critical. A clear breakout above the upper trendline is needed for any trend reversal.
If XRP fails to break resistance, the $1.82 support could be tested again. A breakdown below this level could trigger further losses. Corvinus maintained that any upside now is just a lower high within the broader bearish structure.
Analysts Divided as Market Watches $1.82 Level
Other market analysts have echoed similar warnings about XRP price movement. BATMAN shared a chart indicating repeated rejections at resistance, predicting further downside. He wrote that XRP is “slowly dying” after failing to gain momentum.
Ali Martinez forecasted a decline to $1.10 if XRP loses the $1.82 support level again. He emphasized that a sustained failure at this level could worsen the trend. Several market watchers now focus on whether $1.82 will hold in the coming days.
On the other hand, Steph Is Crypto offered a different view and expects a strong upward rally soon. He suggested that XRP could start what he called “the most hated rally ever.” His prediction came after observing resilience around key demand zones.
XRP price remains under close watch as it trades between $1.82 support and $1.98 resistance. The next move could define its short-term direction. Market participants now await confirmation through a breakout or breakdown.
Corvinus concluded that XRP price must exit the descending channel to reverse the current bearish trend. Until then, analysts view any bounce as temporary. The crypto remains locked in a critical technical structure.
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