XRP Approaches Key Gartley Pattern Support Level... Rebound or Plunge?

XRP is nearing critical support levels, reigniting speculation about a potential technical rebound. Analysis suggests the chart has entered the final stages of an ascending Gartley harmonic pattern. If the $1 level holds, short-term rebound potential is expected. Currently trading around $1.0685, the market views the $1.02-$1.0448 range as a pivotal juncture. This area coincides with both the core entry zone of the ascending Gartley pattern and a historically significant buying zone. The Gartley pattern, a key harmonic chart pattern based on Fibonacci ratios, indicates strong rebound potential if support is confirmed at the final D zone around $1.0048. Recent price action shows the pattern formed after a June 2024 peak near $1.30, with the $1.0072 low marking the X-point. A subsequent rebound to $1.19 in mid-July established the A-point, followed by a drop to $1.0684 (B-point) and a recovery to $1.1186 (C-point). The current CD phase is unfolding, with the projected D-point at $1.0048, aligning with the key demand zone. Fibonacci analysis confirms the pattern's validity, with B-point at ~65.2% retracement of XA rise and C-point at ~43.7% recovery of AB decline. Market focus remains on D-point defense, as a successful hold could trigger further rebound potential.