XRP is continuing to trade within a corrective phase on both its USD and BTC pairs, on Friday, February 27, 2026. The recent rebound from an oversold position is reducing pressure on XRP to fall lower. However, the overall structure is in a downtrend. There is no sign of taking out any major resistance level.
According to TradingView, XRP is trading within a descending channel on the USDT chart. The price action within this channel has been in place since the end of last year. The price has reacted from the support zone of $1.20. This has led to a short-term price increase to the $1.35 to $1.40 zone.
The rebound, however, has not tested the major resistance area of $1.75 to $1.90. This area comprises the previous breakdown support. It is also the upper boundary of the channel. The 100-day moving average provides further resistance around the same area.
Source: TradingView
However, XRP could continue to extend relief as long as the price remains above $1.20. A move towards $1.80 is also possible, provided the buying momentum continues.
Rejection in that zone would reinforce the broader downtrend. A decline below $1.30 would expose support between $1.10 and $1.20.
XRP Nears Key Fibonacci Zone Amid Bearish Outlook
CryptoJobs, an analyst, highlighted that XRP is currently maintaining a bearish outlook on its daily and weekly charts. He said that the XRP price is approaching its 2018-2024 50% Fibonacci region, which could place the long-term bottom near $1.00 to $1.05.
Source: X
He described the state of the market as neutral but also warned that another move down may be required to test this zone.
He also added that bullish momentum would not change unless XRP moves past the resistance range of $1.78 to $1.80 and its monthly resistance at $2.01. Until then, there is no clear short-term direction.
Source: X
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Moreover, another analyst, CryptoWZRD, mentioned that XRP closed the latest trading session with indecision. He also indicated that the intraday chart is near the $1.3820 support level.
A clean retest followed by a bullish reversal might lead to a long position. He also noted that Bitcoin’s price movement will influence the direction for XRP.
Source: X
Open Interest and Volume Decline
According to CoinGlass data, the open interest has declined by 5.25% to $2.28 billion. This reflects a reduced level of participation from leveraged traders. This decline reflects a lack of conviction, which is currently experiencing a corrective phase.
Source: CoinGlass
The future volume reduced by 28.52% to $4.54 billion. The reduction in future volume suggests that there is less activity in the exchanges. This also shows that there is less engagement from buyers and sellers. Traders are waiting for a clearer breakout or breakdown.
Source: CoinGlass
Also Read: XRP at Tipping Point After 200 Million Binance Outflow and Key $1.68 Barrier
