XRP holders may face further prolongation downside pressure Cryptocurrency continues to stall due to market weakness. The performance of XRP during this period is overwhelming Analysts appear to have given up hope that the price will challenge the upper resistance in the short term. They have XRP fell below the major support zonefew technical barriers remain to slow further decline.
All supports fail and XRP faces further decline
A virtual currency market analyst who operates under the name “Guy on the Earth” at X, share The short-term outlook for XRP is quite bleak. The analyst revealed in a post on Thursday: XRP is likely to experience further pain. The market structure continues to deteriorate. He noted that price fluctuations are now at risk of losing their value. Descending channelindicating overall weakness rather than stabilization.
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According to experts, the chances of XRP returning to $1.95 levels by the end of the week are incredibly low. However, a loss of this consolidating range that has kept prices in check since November 2024 opens the door to a technical downside target near $0.90. He also pointed out that the confirmation from the monthly time frame is consistent with the two-week chart, which is rapidly approaching the closing price within just a few days.
Guy on Earth Said to be a little optimistic Current pricing remains the same. He emphasized that XRP will remain vulnerable as no meaningful support levels have been maintained and market demand appears to be weak. selling pressure and potential decline. Analyst reviews of crypto performance are frank and suggest that the market is “as it is” at this stage.
Looking at the chart shared with the analysis, XRP is clearly trading within a well-defined descending channel that has been guiding the price decline in recent months. Each bounce attempt is limited by a descending resistance line, reinforcing the cryptocurrency’s bearish trend. Recent candlesticks also show the price drifting towards the lower end of the descending channel and rising. Risk of modification.
The momentum indicator at the bottom of the chart also reflects continued pressure. XRP’s Relative Strength Index (RSI) is located near the lower limit Prices have not recovered, indicating continued weakness.
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Analysts focus on short-term expectations for XRP
when asked A daily closure within the descending channel could temporarily rescue XRP from a prolonged slump, according to members of the crypto community, Guy on the Earth acknowledged that possibility. he said While such a move may help in the short term, it is a “minor” development compared to a larger structural level, he said.
The cryptocurrency analyst’s focus remains on the two-week closing price level of $1.95, highlighting it as the area to watch most. He noted that this structure has remained intact for the past 13 months, making it a definitive support zone for XRP. It will not be deleted even if you return to the channel, but Broader bearish trendexperts revealed that suggests that at least XRP still has a chance to grow.
Featured image created by Dall.E, chart on Tradingview.com
