XRP is rebounding toward $1.32 after defending the $1.26 support for the second time in October. The asset now pushes toward a short-term descending channel’s upper boundary and the 0.5 Fibonacci retracement. A breakout from this area could shift the short-term structure, while another rejection would keep sellers in control.Ripple Price Analysis: The USDT PairOn the daily chart, XRP is correcting the August rally from $0.99 to the $1.70 high. The decline has carried the price below the 0.5 Fibonacci retracement at $1.34, which now acts as resistance. The failed attempt to break back above $1.40 on October 21 reinforced the bearish short-term structure.The key support is $1.26, where the 0.618 retracement overlaps with a prior demand zone. Two lower wicks into this area suggest buyers are responding, but the rebounds have remained modest. For now, the level continues to hold, yet the market has not confirmed a reversal.On the upside, a reclaim of $1.34 would be the first sign of improvement, opening the way toward the $1.40 supply zone. Beyond that, the $1.50 region marks the origin of the last major breakdown and the next significant overhead barrier.Conversely, if $1.26 breaks on a decisive daily close, XRP could slide toward the 0.702 retracement at $1.20. Below that, $1.14 stands out as the 0.786 retracement and the top of the demand block that launched the August rally.The 4-Hour ChartThe 4-hour chart shows XRP trading inside a descending channel since the late-September high near $1.65, with consistent lower highs. The upper boundary rejected the price near $1.40 on October 21, triggering a sharp decline back toward the $1.26 demand zone. That reaction confirmed the trendline as dynamic resistance.Buyers have since defended the $1.26 area twice, producing a series of slightly higher lows. XRP is now climbing toward the channel’s upper boundary around $1.34, which overlaps with the daily 0.5 retracement. This confluence makes the next few candles important for the short-term direction.A decisive breakout above the trendline could trigger a relief rally toward the $1.40 supply zone. Clearing it would weaken the bearish channel and bring $1.50 back into focus. Failing that, a rejection near $1.34 would likely send the price back to retest support.A 4-hour close below $1.26, together with a loss of the channel’s lower boundary near $1.23, would suggest buyers are losing control. In that scenario, the $1.20 level would likely be the next downside target. The channel therefore remains the dominant pattern. Until XRP breaks above its upper boundary, rebounds toward $1.34 are more likely to face selling pressure than to confirm a trend reversal. The post Ripple Price Analysis: XRP Must Reclaim This Key Level to Restart the Rally appeared first on CryptoPotato.