XRP Price Hits Crucial 50% Midpoint Level on Weekly Chart

An analyst at Coinvo Trading believes that XRP has reached a crucial level on its weekly chart, which could be a turning point for the cryptocurrency's price. The current price of around $1.10 is near the 50% midpoint of XRP's recent range, similar to a key level in 2021-2023 where a major cycle bottom formed.

The analyst notes that this zone has historically shown strong support and could lead to another rally for XRP. However, if the price fails at this level, it may open up deeper losses for investors.

Looking at the chart, the 50% level acts as a measured midpoint between the high and low of a given range, which can sometimes align with Fibonacci retracement levels. The current structure shows XRP approaching the same relative depth from its 2024 high, which could be a bullish sign if the price holds up.