[Digital Today reporter Yoonseo Lee] XRP has rebounded sharply from the $1.09 support line, undermining a previous outlook that it could fall further to $0.90.

On June 16, blockchain outlet The Crypto Basic reported that market analyst Casitrades assessed that the recent rebound raised the possibility XRP has already hit a bottom and entered a new upward flow.

The key is the reaction around $1.09. Casitrades said the level corresponds to a 0.786 Fibonacci retracement on a macro basis and that the rebound could be more than a simple technical bounce. XRP slid to as low as $1.05 intraday early this month, then traded near $1.09. It has since recovered 12.8 percent to $1.23 at current prices. Its gain over the past week also reached about 6 percent.

The $1.05 to $1.09 zone has repeatedly drawn buying interest, but this time the speed and strength of the rebound were cited as the difference. XRP formed a higher low near a short-term uptrend line and then jumped quickly.

Short-term momentum also improved. On a four-hour basis, the relative strength index (RSI) rose above 80, showing the strongest buying pressure since April. Casitrades said the recovery at $1.09 created a scenario in which XRP may already have formed a bottom and could begin a new uptrend.

She also made clear that an upside reversal is not confirmed. The next level the market needs to check first is $1.30, and XRP has been testing that area after the rebound. The $1.30 level was a prior support line that held declines earlier this year, but after it broke in early June it was presented as an area that has turned into resistance.

Casitrades noted that the current rise has already exceeded the typical target for a corrective wave C. She said, "Nothing is confirmed right now, but it increases the possibility that the XRP structure is changing trend." If it is pushed back again at $1.30, a larger downward structure could remain in place, reopening the possibility of a retest of $0.90.

The final reference line watched by market participants is $1.65. Casitrades presented $1.65 as an invalidation price that would lead her to judge there is no need to confirm lower support. The area is classified as a major resistance that has continued to block XRP's rise since February. To completely erase the $0.90 decline scenario, XRP would need to do more than clear $1.30 resistance. It would need to break above $1.65 and then turn it into support. At current prices, that would require an additional gain of about 34 percent to reach the decisive area.

The key point of this analysis is that it did not present a simple rebound, but jointly offered technical reference lines of $1.09 and $1.65. It clearly showed that judging XRP's direction depends less on price swings themselves than on whether it breaks through key support and resistance levels.

XRP Tests MAJOR Resistance at $1.30! We're seeing some awesome momentum come into the crypto market, and price is now approaching a very important resistance level around $1.30. What's interesting is that this move has already pushed beyond what I'd consider a standard… pic.twitter.com/BznxwcuC0y