- XRP remains under an important ascending trend line which indicates future declines may continue beyond current market levels unless traders manage to regain price levels above $2.20.
- Maintaining above $2.00 constitutes critical support and the following level of major support exists at $1.60.
- The bearish trend would become invalid and create bullish momentum if $2.30 becomes a push above.
XRP has experienced a significant decline, breaking below a crucial long-term ascending channel, raising concerns among investors and traders. The current market figures show a price decline of 7.0% which moves XRP to $2.10. The ongoing market movement along with bearish technical indicators currently suggests additional price decline might happen throughout the next weeks.
Breaking the Long-Term Support
The technical chart illustrates that XRP had been trading within a well-defined ascending channel since mid-2024. This bullish structure provided a framework for price movements, with support and resistance levels guiding market behavior.
A distinct downward trend through the channel base constitutes a warning sign for potential market trends and prolonged periods of corrective action. XRP faced bearish pressure after its support level at $2.20 failed to maintain itself which caused the token to battle staying above $2.00.
Key Levels and Market Implications
A breakdown through the ascending channel creates an unstable situation for XRP. The price needs to recover $2.20 to prevent additional decreases and the main support range begins around $1.60.Thus, a price rise above $2.30 would be needed to break the ongoing bear market and restore bullish signals in the market.
The selling pressure has intensified based on volume trends which strengthens the bearish price movement potential. The market moves into a state of heightened volatility when traders start changing their positions following trendline penetrations.
Potential Future Trends
The current price decline may cause XRP to reach the $1.60 psychological and technical support level but it still remains a potential temporary buying point. A failure to maintain support at this point might initiate another movement toward $1.00. A quick rise above $2.30 value would show the market correction was unsuccessful which would attract renewed interest from buyers.
The current market value of XRP at $2.07 will shape upcoming price movements to show whether bears will dominate the market or bulls push for a recovery.
