XRP Hits Key Support at $1.88 Amid Market Pullback

XRP is currently trading around $1.90, experiencing a pullback over the last 30 days. This pullback brings into question whether it's due to structural weaknesses or a necessary reset in a bullish trend.

XRP's Key Support Zone

XRP hit an intraday low of $1.88, nearing a macro support level defined by a 0.5 Fibonacci retracement.
This zone has previously acted as a pivot point, similar to past movements that led to quick rebounds.
Fibonacci levels between $1.88 and $1.86 suggest structural significance in this price region.
Current pullback appears orderly with no sharp breakdowns below the support level.

Potential Outcomes for XRP

The current support test is not necessarily bearish; it can absorb selling pressure and potentially lead to a stronger bounce.
If XRP maintains above the $1.88 level without forming new lows, a bullish continuation is favored.
Upside targets range from $2.18 to $2.31 in the midterm.
Momentum indicators like RSI are oversold, indicating a potential clean bounce from the support.

As of now, XRP remains at $1.90, showing resilience above $1.88. However, a decline below $1.80 could invalidate the bullish outlook and shift focus to lower retracement levels.