[DigitalToday reporter Yoonseo Lee] XRP is trying to rebound after being pushed below $1.31, and an analysis says the correction could end without falling to the $1.25 support line.

The Crypto Basic, a blockchain outlet, reported on Oct. 17 that XRP fell as low as $1.29 at one point last week and is now trading around $1.30 as it tests support.

The key level in this analysis is $1.31. The market currently views the decline as an A-B-C corrective structure, and it sees no need for the final C wave to extend to $1.25. It says that simply slipping below $1.31, the low of the earlier A wave, could partially meet the conditions for ending the correction.

XRP has already dipped below $1.31 during intraday trading and then recovered to around $1.30. That has put the focus on whether buying interest can defend the $1.29 to $1.33 range in the short term.

There is also room for further declines. The chart marks a broader buying zone extending to around $1.25. This is seen as an area where support could be expected if prices fall further, but it is not interpreted as a level that must be reached for a rebound. From $1.33, there is about 6 percent downside room to $1.25.

If a bottom is confirmed at current levels, the first recovery target is $1.45 to $1.50. Above that is a resistance zone where a downward trendline overlaps with the prior B-wave area, and the next major resistance line was cited at $1.70. That level would need to be broken for follow-on targets such as $1.93 to $2.00 and $2.08 to become valid. From $1.33 to $1.50 is about a 13 percent rise, and to $1.70 is about a 28 percent gain.

In the medium term, $1.05 to $1.15 was cited as a key support zone. This area is described as a demand zone that underpins a longer-term bullish scenario. If a closing price forms below this range, the recovery scenario weakens and the risk increases of being pushed back to around $0.99 or forming a new low.

The core of the analysis is that XRP has already met some of the conditions for a technical reversal without testing deeper support. The short-term price direction depends on whether buyers can turn the $1.29 to $1.33 range into firm support.