XRP: $1.05 Fib Floor Holds as Weekly Structure Sets Up Wedge Breakout Test
XRP down 5% on the week near $1.10, but weekly Fib and trendline confluence at $1.05-$1.06 keeps a 2024-style breakout thesis alive.
XRP is changing hands around $1.10 after a 5%+ weekly drawdown, but the token has not broken the technical floor that matters most for the bullish case: the 0.382 Fibonacci retracement at roughly $1.05. That level sits inside a broader weekly demand zone spanning $0.79 to $1.05, and price has not closed below it.
The Fib grid traders are tracking
The retracement framework runs from a cycle low near $0.50 up to extension targets above $11. XRP has repeatedly reacted at these markers across multiple cycles, which is why the $1.05 zone is being treated as structurally significant rather than arbitrary.
A weekly close below $1.05 would remove that floor and open room for a deeper retracement. Above it, the multi-year uptrend structure is still considered technically intact, even with price down from recent highs.
Wedge geometry mirrors November 2024
Current price action is compressing into a descending wedge that resembles the pattern XRP traded inside before its November 2024 breakout, when the token rallied more than 500% in roughly a month once resistance broke. A similar narrowing structure has formed again, with support building beneath a descending resistance line.
Scaling that prior breakout’s magnitude onto the current setup puts the next major target at the 1.414 Fibonacci extension near $7.88 — the level underpinning the widely referenced $7 target for 2026. A further 1.618 extension near $11.74 is the follow-through target if momentum extends past the first leg.
Confluence at $1.06
A long-term ascending trendline that has supported XRP since 2023 now intersects the same demand zone near spot price, while the descending wedge resistance keeps compressing the range. That stacks horizontal support, the Fib retracement and the multi-year trendline into a single confluence area around $1.06.
Holding above $1.06 keeps the wedge-breakout thesis alive and raises the probability of a push through descending resistance rather than further downside. Losing that zone invalidates the setup and shifts near-term bias lower — meaning the $7 scenario stays conditional on price action over the roughly six months left in the year, not a confirmed outcome.
Read more: XRP’s Third Accumulation Zone: Analyst Maps $0.70-$1.10 Base Against Prior 1,803% Runs