XRP approaches the golden zone after weekly decline: What does the price say now?

According to recent reports from Bijie Network, XRP has experienced downward pressure this week. As of today (March 12, 2026), the cryptocurrency is trading at $1.37, showing a 3.30% decline over the past seven days. This movement has caused the price to seek support at critical technical levels, including the well-known “golden pocket” zone, a range that has historically contained selling pressure.

Elliott Wave and Technical Analysis: Experts’ Perspective

Renowned trader CasiTrades has applied Elliott Wave Theory to XRP’s current price movement, suggesting that the room for further declines is limited. According to this technical analysis, if the price stabilizes at support levels, we could be looking at a scenario where selling pressure may be exhausted. The wave configuration indicates that the bears have lost momentum and that conditions for a rebound are beginning to emerge.

The Golden Pocket: Critical Support Level

The “golden pocket” zone, between $1.53 and $1.60, has been identified as an important support level for XRP. However, with the current price at $1.37, the cryptocurrency has already broken below this range. The fact that XRP remains below the golden pocket suggests that sellers still hold some control over the market. Nonetheless, analysts point out that this decline could create opportunities if the market finds a new support floor lower down.

Recovery Targets: What Price Should XRP Reach?

If Elliott Wave theory is confirmed, XRP could rebound to levels of $1.78 or even $1.93, representing a significant bounce from current levels. However, to definitively break the bearish structure and move away from the risk of deeper declines, bulls would need XRP to decisively recover the $2.03 level. This would be the breakout point confirming a change in market sentiment and the end of selling pressure. Meanwhile, traders and analysts are closely watching how the price behaves in the coming days, looking for clear signals about the direction of movement.