XRP has rebounded slightly after plunging to its lowest level of the year, stoking debate over whether the drop marked a bottom.

On June 10, blockchain media outlet The Crypto Basic reported that XRP fell to $1.05 on June 6, logging its biggest decline so far this year. At the time of analysis, it traded around $1.11.

The sharp fall came as selling pressure across the broader cryptocurrency market strengthened again. Market participants are watching how XRP reacts at chart levels to judge whether the months-long correction is in its final stage or whether another leg down remains.

Market analyst Cathy said XRP bounced after finding support near $1.09 at the 0.786 macro retracement level. The price then rose to around $1.17, a local 0.382 retracement, and the key now is whether it holds the 0.5 retracement near $1.12. He said if XRP develops in a standard ABC correction pattern, it should hold above $1.12 and gradually move toward the next resistance level at $1.25.

The key level is $1.25. Cathy said that price range is the upper bound where the current wave 4 rebound can continue, while also leaving room for a final wave 5 decline. If XRP fails to clear the range, selling could return and push it below the $1.09 support level. In that case, it could fall further to around $0.90 and a larger correction could be completed, he said.

A bullish scenario also remains possible. Cathy said if XRP holds above $1.12 over the next few days and breaks nearby resistance, rebound momentum could revive. He viewed a break above $1.30 as a strong signal and said that if it climbs to $1.65, the likelihood of falling back to the $0.90 range would drop sharply.

Another analyst, Tara, said XRP has already reached a target resistance level around $1.17. He said that because bitcoin has not yet reached its own target range, XRP could rise further to hit resistance at $1.20 if bitcoin climbs to $66,300.

He warned, however, that it would be necessary to see whether XRP clearly breaks above $1.17. If it fails to make a new high in that zone, the projected wave 5 downside target would remain valid, he said. He added that the wave 5 0.618 extension target almost overlaps with the broader macro 0.786 support level at $0.88, suggesting the final bottom may not yet have formed.

In the short term, the watershed is the $1.12 support level and the $1.25 resistance level. Over the next 1 to 2 days, XRP's moves in that range are expected to determine whether a bottom has already been confirmed or whether there will be another decline.

Was that the Bottom on XRP? After reaching the major .786 macro support at $1.09, XRP has pushed up to a local .382 retracement (A) and is now completing what looks like a Wave B correction. That B wave targets the .5 retracement around $1.12, and so far price is holding… pic.twitter.com/CD2zZIg208