Analyst: XRP stuck in downtrend, $1.20 breakout is key

Despite a recent rebound, XRP remains trapped in a downward channel, according to an analysis by CoinDesk. The short-term rally has recovered some losses but has failed to reverse the overall downtrend of lower highs. While investor accumulation is being observed through exchange withdrawals and ETF inflows, this is viewed more as a bottoming process than a bullish reversal. The analysis notes that the $1.13–$1.14 range has emerged as a key short-term support level. A break above $1.20 would be needed to signal the start of a price recovery, while a failure to hold support around $1.10 could lead to a test of the psychological $1 level.