Crypto analyst Crypto Michael (@MichaelXBT) has identified a critical price level that he believes will determine XRP’s next major move. His analysis points to two possible outcomes from the current structure, one of which involves a further decline before any upside materializes.
The Descending Channels
XRP traded at $1.2901 at the time of his analysis, down 2.58% on the day. Since August, the asset has moved through two distinct phases. The asset broke out and rallied to $1.68 in a few days, but that momentum stalled and it entered a descending channel.
It then broke above that channel in late September and pushed to $1.65. That move failed to hold, and XRP entered a second, steeper descending channel where it currently trades.
The upper resistance line of this channel sits near $1.34. The lower support line projects toward $1.22. XRP has respected both boundaries across multiple touches.
XRP needs to break $1.34 to activate the next leg up
A final dip to $1.22 is possible until that level is broken pic.twitter.com/Pgm5Eamadv
— Crypto Michael (@MichaelXBT) October 29, 2026
The Line That Changes Everything
Every rally toward the upper trendline has met selling pressure. The most recent attempt in late October reached approximately $1.34-$1.35 before reversing. Crypto Michael stated: “$1.34 needs to break to activate the next leg up.” Until $1.34 breaks, the structure stays bearish.
A Potential Bearish Scenario
Crypto Michael does not rule out a deeper pullback first. He notes that “a final dip to $1.22 is possible” before the breakout level gives way. The lower boundary of the channel continues to slope downward and projects into that zone over the coming days. A move there would represent a roughly 5.4% decline from current levels.
Some market participants have shared bearish predictions for the rest of 2026. However, buyers previously stepped in around that area in mid-October when the price tested $1.26. If $1.22 holds, it could mark the bottom for XRP. This would set the asset up for another retest of $1.34, and a potential break above it.
XRP Sits at a Decision Point
The setup is binary. Either XRP’s price breaks $1.34 and the next leg begins, or the channel holds and a test of $1.22 follows first. The structure is defined, and XRP must now make a decision to test higher levels or retrace and prepare for another move. The community is waiting, and this decision could come soon.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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