XRP Firm Position Above $1.38 Could Open The Door For Another Leg Up
13 May 2026 · 23:00 UTC · NewsBTC RSS Feed · Original source
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Summary
XRP maintains position above the critical $1.38 support level despite recent price weakness. Technical analysts interpret the pullback since May 10 as a corrective three-wave decline rather than a trend reversal, suggesting downside may be temporary consolidation within a broader bullish cycle. The key focus is whether buyers defend the $1.38 swing low; if held, technical structure suggests potential for another upward move within a diagonal pattern. Current upside momentum remains modest. The internal B-wave support zone between $1.40-$1.42 is monitored, with the 100% extension target near $1.41 already reached, which often marks three-wave correction completion. Analysts note significant divergence in Binance spot Cumulative Volume Delta (CVD), where volume metrics remain resilient despite prices near local lows. This stability during downtrends, contrary to typical patterns, suggests underlying demand and potential institutional accumulation. Similar divergences previously preceded sharp market reversals, indicating XRP may near the end of consolidation and preparing for a trend shift.
Why it matters
This analysis relies on technical pattern recognition and volume analysis, both inherently subjective and not guaranteed predictors of future price movement. The claimed volume divergence (CVD stability during downtrend) is interpreted as institutional accumulation, but this assumption lacks definitiveness. Support levels act as self-fulfilling prophecies when traders recognize them, but false breakdowns occur frequently in crypto markets. Technical analysis has documented limitations, and the vague attribution to unnamed analysts ('More Crypto Online', 'Xaif Crypto') and low source credibility (NewsBTC 0.45) introduce additional uncertainty. The connection between individual altcoin price action and broader market movements is indirect for Bitcoin. Specific historical precedents are mentioned without detailed timeframes or success rates. Low originality (0.3) and lack of primary data or official statements further reduce confidence in long-term prediction reliability.
Expected impact
If XRP successfully defends the $1.38 support level and breaks higher, it could signal reversal of the recent corrective pullback and trigger a broader altcoin rally. The technical analysis suggests current consolidation represents a temporary phase within a larger bullish structure, with volume divergence on Binance indicating institutional accumulation despite downward price pressure. A successful breakout would boost trader sentiment across altcoins, as XRP movements often correlate with altseason dynamics. Impact on Bitcoin would likely be moderate and indirect, primarily through general market sentiment shifts. The strength of any impact depends on confirmation of the proposed technical pattern and sustainability of the breakout. Weaker follow-through or failure to defend $1.38 would invalidate the bullish thesis entirely.