XRP ended the week at $1.238, down 6.98% — but the real story happened midweek when the token briefly slipped below $1.20. That intraweek low of $1.188 was a near-exact replay of February's wick pattern, where prices touched the same zone before snapping back.
Why $1.20 Matters
That $1.20 level isn't just a round number. On the weekly chart, it's been the closest significant support since February 2024. Each time XRP's weekly close tested that area, it held. The latest dip — and recovery — mirrors that earlier pattern almost perfectly. Traders watching the charts saw the wick, then the rebound. The close at $1.238 suggests buyers stepped in to defend the line.
The Pre-Breakout Zone
XRP is now sitting in the same price territory that preceded the explosive move from $0.55 to $3.40 in late 2024. That vertical run started from a range just below current levels. Whether the current pause signals another launch or just a rest stop is an open question — investors are watching the weekly close structure for clues.
What Comes Next
The next question is whether XRP can hold above $1.20 on a weekly basis. Another close below that mark would break the pattern that's held since February. For now, the wick-and-recovery setup keeps that support intact, but it's a thin line — and crypto's weekend volatility doesn't always respect chart lines.
