XRP has been trading within a well-defined high-timeframe channel, and price is once again approaching key support. With several technical factors aligning at this level, the possibility of a bullish expansion toward $4.70 is emerging, but confirmation is critical before this scenario can play out. As Ripple ( XRP ) continues to move within a high-timeframe ascending channel, the asset is now testing a critical support zone that could define its next major direction. Technical confluence between Fibonacci levels, historical market structure, and key volume nodes is forming a compelling case for a potential rally, if buyers can confirm support in the coming weeks. Key technical points Approaching Channel Support: XRP is retesting the low of its long-standing trading channel, an area that has historically provided major reversals. Multiple Confluences Align: Support aligns with the 0.618 Fibonacci retracement, the value area low, and a higher low structure on the macro chart. Bullish Expansion Possible: I f support holds, price could rotate toward the channel high, projecting a target near $4.70. XRPUSDT (4H) Chart, Source: TradingView XRP has been consolidating within a high-timeframe ascending channel that has consistently dictated price direction over the past few years. Each major move, whether bullish or bearish, has respected the channel’s boundaries. Price is now revisiting channel support, which aligns with the 0.618 Fibonacci retracement, a historically significant zone of demand. You might also like: Polygon co-founder Sandeep Nailwal takes over as Foundation CEO to fast-track AggLayer expansion Also overlapping this region is the value area low, the lower boundary of the high-volume trading range — along with a higher low on the macro chart. These overlapping technical factors suggest that this area could act as a launchpad if buyers step in with conviction. However, the bullish thesis remains unconfirmed unless support is clearly validated in the coming sessions. If support holds and buyers reclaim initiative, historical price behavior suggests XRP could rotate aggressively toward the channel high. This level has repeatedly served as a rejection point and now aligns with $4.70, a technical target based on the channel’s structure and previous rally dynamics. What to expect in the coming price action XRP is at a pivotal point within its high-timeframe market structure. A confirmed hold above current support could open the door to a bullish expansion toward $4.70. Until that confirmation occurs, price may continue to consolidate within the broader accumulation range while the market awaits a definitive breakout catalyst. Read more: Connecticut bans state use and investment in crypto under sweeping new law
