XRP price prints a swing failure pattern at $1.80 and reclaims support, suggesting downside exhaustion as traders watch the $1.98 level for bullish confirmation. The swing failure pattern forms at $1.80, suggesting a local bottom. XRP price is showing early signs of a potential bottom after forming a swing failure pattern (SFP) around the $1.80 level. This pattern, often associated with downside exhaustion, has emerged as the price reclaimed the $1.80 region after briefly trading below it.
Holding the 0.618 Fibonacci retracement could confirm the bullish setup. A clean reclaim of $1.98 on a closing basis would signal acceptance of value and confirm the swing failure pattern as a valid bottoming structure. Such a move would likely open the path for a rally toward the $2.20 resistance, where prior selling pressure has previously emerged.
If XRP holds above the 0.618 Fibonacci level and reclaims the $1.98 Point of Control, the probability of a bullish continuation toward $2.20 increases. Failure to reclaim this region would keep price rotational and warrant continued caution. In XRP’s case, the reclaim of $1.80 suggests that buyers are actively defending this region. The current pullback toward the 0.618 Fibonacci retracement is a critical test for the bullish thesis.
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