XRP Rebounds From $1.96 Support as Analyst Target Mid-Channel Move to $2.60

XRP maintains upward structure after rebounding from the $1.96 channel floor, positioning the price toward the mid-range zone around the $2.60 level.

The midpoint near $2.60 has acted as a recurring barrier, drawing attention as XRP sustains momentum above $2.20 within its existing price channel.

The approved XRP spot ETF adds institutional access while the market observes whether current strength extends toward the upper boundary of the broader range.

XRP is showing renewed strength after rebounding from the lower boundary of its long-term horizontal channel, positioning the asset for a potential move toward its mid-range zone.

Rebound From Established Channel Support

XRP · $2.17 recently reacted to the channel floor near $1.96, where buyers stepped in after a steady decline. The move followed a sharp wick-driven touch of the support level that has served as a reliable demand area for months. According to analyst Ali (@ali_charts), the price behavior reflects a classic channel-bound interaction that often emerges when sellers lose momentum near historical floors.

The reaction has shifted short-term structure as XRP turned upward with measured strength. Market participants now view the recovery as a typical form of mean reversion inside an established range. The channel’s lower edge remains a key reference point for traders who monitor whether the asset can maintain traction above $2.10.

While the bounce does not confirm a broader trend shift, it holds the assets inside the channel, keeping the existing market structure intact. The support level around $1.96 remains the threshold that traders watch for signs of renewed pressure.

Mid-Channel Level Emerges as the Next Technical Magnet

Ali noted that XRP could be heading toward the channel’s midpoint near $2.60, a price area the market has interacted with several times this year. This zone reflects earlier consolidation phases and has served as a barrier where price often slows before choosing direction. The current trajectory suggests that XRP may continue advancing toward this level if it sustains movement above $2.20.

The mid-range area represents the equilibrium of the channel, making it a common destination for assets recovering from support tests. Traders expect increased activity around this price, where earlier reactions shaped short-term structure. Any slowdown here would keep XRP inside its range-bound environment.

A firm move through $2.60 would shift focus toward the upper channel boundary near $3.35. However, a stall at the midpoint may extend the sideways structure that has governed XRP for weeks.

Market Focus Shifts Toward ETF Approval and Price Stability

The approval of the XRP Spot ETF (ticker: TOXR), scheduled to begin trading on November 29, adds a new development to current market conditions. This step expands institutional access and introduces another regulated avenue for exposure to the asset. Although the price structure remains technically driven, the ETF listing arrives during a period of renewed attention on XRP’s channel movement.

Short-term observers are monitoring whether momentum above $2.20 can mature into a sustained trajectory toward $2.60. Any weakness back below $2.10 could suggest the rebound is losing strength. The market’s reaction around mid-range levels may determine whether trading remains confined within the long-standing horizontal structure.

As long as XRP holds above channel support, traders view the path toward $2.50–$2.60 as likely. The upcoming ETF launch adds another layer of market activity during this technical phase.

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