XRP Prices May Near $2 Before Key Support Retest

XRP's current price action has raised hopes for a short-term rebound after months of weakness. The token is drawing fresh market attention as it holds near a key long-term support zone.

Analysts are watching whether the current support can lead to a stronger move in the weeks ahead. One crypto analyst noted that XRP is testing a key level on the monthly Gaussian Channel, which has tracked major cycle lows since 2014.

The same chart shows the middle Gaussian Channel near $0.78, which marked past cycle lows. However, the level may rise if the price takes longer to return.