XRP currently trades within a descending channel pattern that suggests the downtrend may continue to new lows before a rebound could occur. The broader crypto market has remained stuck in a downward trend, as selling pressure persists across the board.
XRP could be repeating the same price pattern that came before its massive rally in the 2017/2018 market cycle. Latest market data suggests the asset is again moving within a symmetrical triangle, similar to the structure that eventually led to a remarkable 66,000% gain and pushed XRP to $3.31 nine years ago.
XRP has formed an inverse head-and-shoulders pattern on the daily chart, with its completion targeting a 16% move to $1.32. The setup comes amidst the recent price rebound.
XRP has continued to maintain support within an ascending triangle over the past eight years, with chart data pointing to new price targets. Currently, XRP changes hands at $1.13, up more than 9% this month after opening at $1.0385.
XRP has reached an important resistance level after breaking above the Ichimoku Cloud on the one-hour chart amid a recent rebound push. The breakout has improved the token's short-term outlook, but buyers still need to push through key resistance levels before they can confirm that the recovery has more room to continue.
XRP is showing early signs that it has regained bullish momentum after breaking out of a structure that has suppressed its price for several weeks. The coin’s bullish price action over the past few days has aided this breakout.
Crypto investor Mike Alfred has ignited fresh debate across the digital asset community after sharing an unusually bearish long-term outlook for XRP. In a post on X, Alfred revealed that he expects Bitcoin (BTC) to eventually reach a long-term target of $1.5 million per coin and Ethereum (ETH) to climb to $31,500.
XRP has a positive average performance record in July of every midterm year, and its price trend so far suggests a repeat. At the time of writing, XRP trades at $1.088, down less than 1% in the past 24 hours.
XRP has entered a difficult position after falling below all four of its major exponential moving averages (EMAs) on the daily chart. At the time of writing, the token trades at $1.0863, below the 20-day, 50-day, 100-day, and 200-day EMAs.
XRP has continued to trade within a falling channel since dropping from the $3.6 peak, with the structure now mapping a path above $3. Notably, for almost a year, the token has formed a pattern of lower highs and lower lows while staying between two downward-sloping parallel trend lines.
XRP is going through another deleveraging phase on Binance. According to CryptoQuant author Darkfost, a key derivatives metric has dropped to one of its lowest levels since late 2024.
The XRP community is discussing the token's long-term value based on its current share of the cryptocurrency market. XRP currently accounts for 3.13% of the total crypto market, which stands at $2.15 trillion today.
XRP is getting close to the entry zone of a potential bullish Gartley harmonic pattern, which could mark the end of the ongoing correction. Currently, XRP changes hands at $1.0685, and the entry zone also aligns with a long-established demand area between $1.02 and $1.0448.
XRP's price could drop further as whale activity on the XRP Ledger has slowed considerably, signaling reduced participation from large investors. According to Santiment data shared by Ali Martinez, the number of XRP transactions valued above $1 million has fallen by 97% in one week.
While XRP has suffered significant losses this year, chart data indicates that a recovery toward new highs is not completely impossible. XRP has remained under pressure in recent weeks, slipping to around $1.10 after posting a weekly loss of just over 5%.
XRP is at risk of a downside move, as falling open interest and a possible bear flag pattern point to $1.04 as the next key support level. XRP continues to show signs of weakening momentum, with both on-chain data and technical indicators pointing to intense selling pressure.
XRP has entered one of the most important stages on its weekly chart, placing it at an inflection point that could determine its next major move. XRP is currently trading at around $1.1063 after reaching a weekly high of $1.1638 before pulling back.
XRP must hold above a critical support level to keep its short-term uptrend alive and have a chance at recovering above $1.29. XRP continues to hold up well on the 4-hour chart, even after giving back a small part of its recent gains.
Chart data identifies an area that may represent the most reasonable zone for XRP to find its bottom in the ongoing bear market cycle. The current downtrend has continued to weaken investor sentiment, as XRP records some of its biggest losses in recent times.
XRP could still make a sweeping move below the psychological $1 mark, according to Tokentus Investment CEO Oliver Michel. Michel shared this prospect in a recent XRP price analysis on Germany's Der Aktionär TV.
Login