XRP has traded within a narrow range between $1.30 and $1.70 for the past four months, far below its $3.65 all-time high. One technical analyst now believes this extended selloff is nearing completion.
Analyst Protechtor, posting on X, has tracked a key support zone on XRP's daily chart for over a year. He views the decline from late 2025 through early 2026 as Wave C of a broader corrective sequence that may be finished or nearly finished.
The evidence lies in the tight price action forming a descending triangle pattern, with lower highs since January 2026 and a stable floor around $1.28. This compression phase could signal the end of the corrective move.
If the bottom holds, traders may see a reversal opportunity. However, a break below $1.28 would invalidate the pattern and could lead to further downside.
Protechtor's bullish case rests entirely on technical chart patterns, which are inherently subjective and often fail to predict precise turning points.