XRP is holding near its $1.00 support level as buyers defend the $1.00–$1.02 zone, with traders watching for a decisive move through the $1.18 neckline that would confirm a developing double-bottom pattern on the four-hour chart and open a path toward an estimated $1.40 target.

The pattern remains valid above $1.00, but confirmation requires stronger buying and a decisive neckline recovery. XRP derivatives, meanwhile, remain active across exchanges, with open interest concentrated while trading volumes vary widely between platforms, showing that market participation is broad even as spot price action stays compressed.

Double Bottom Develops Around Key Support

The four-hour XRP/USDT chart shows two lows forming around the $1.00 area, following a prolonged decline from significantly higher levels. Buyers have repeatedly responded whenever price approached this psychological support, making the level a focal point for short-term traders.

The first bottom formed after a sharp move toward approximately $1.00. Price then rebounded toward the $1.18 region before sellers returned, and that recovery created the central peak separating the two potential lows. The second bottom has now developed close to the first, giving the structure the symmetry characteristic of a double-bottom pattern. The formation remains incomplete, however, without a confirmed neckline breakout.

In an accompanying X post, Crypto With Gopal identifies this double bottom. According to the post, buyers are defending the $1.00–$1.02 support zone, and the analysis singles out $1.18 as the neckline and $1.40 as the estimated target.

$1.18 Neckline Controls the Bullish Setup

The $1.18 region represents the most important resistance on the displayed structure. Price previously approached this area before sellers regained control, so another test would place the pattern directly against its confirmation level.

An upward break through $1.18 would confirm the bullish reversal pattern. Such a breakout would remove the resistance between the two lows and weaken the descending trendline currently restricting recovery attempts.

The chart projects a potential move toward approximately $1.40 after confirmation. That target sits above the neckline by a considerable margin, meaning price would need sustained momentum after clearing $1.18. Meanwhile, the $1.00–$1.02 zone remains the immediate defensive area: holding it keeps the double-bottom structure technically intact, while a decisive break below $1.00 would weaken that interpretation considerably.

Derivatives Show Broad XRP Market Participation

XRP derivatives activity remains spread across numerous cryptocurrency exchanges, according to displayed futures data. Binance shows approximately $457.08 million in open interest. KuCoin follows with about $411.66 million, while Bybit records roughly $281.62 million. MEXC holds approximately $235.56 million, and Hyperliquid and OKX show around $111.82 million and $102.79 million respectively. These figures indicate substantial active positioning across multiple venues.

Volume rankings differ noticeably from open-interest rankings. MEXC leads the displayed volume figures at approximately $376.84 million, with OKX next at around $116.77 million and several other exchanges reporting smaller totals.

Futures trade-count data adds another layer to the picture. LBank records approximately 778,380 trades, leading the displayed exchanges.

XRP Trades Near $1 in a Tight Range

Meanwhile, XRP trades near $1, keeping support and resistance tightly defined. Displayed spot data places XRP around $1.00, down approximately 0.56% daily, with intraday trading compressed between roughly $1.00 and $1.012. The narrow range shows limited directional follow-through so far, which is why traders are watching the neckline rather than assuming the setup is complete.

For bulls, defending $1.00 remains essential for maintaining the current structure, and a move through $1.18 would provide stronger confirmation of reversal. Until then, XRP remains between established support and significant overhead resistance.

Source: Crypto Front News