XRP Price Signals Potential Decline, Targeting $1.80

As XRP price declines, the bearish market structure is becoming more pronounced, putting the $1.80 support zone in jeopardy due to ongoing lower highs and rejections at important resistance levels.

Key Takeaways

XRP is showing strong bearish pressure, with continued lower highs and lows.
The upcoming support level is at $1.80, under threat due to thinning market structure.
A potential recovery hinges on the reaction at $1.80; failure to hold could lead to deeper declines.
Interest from new XRP ETFs has not yet positively influenced XRP's short-term price trajectory.

XRP price weakness suggests a further correction

XRP's price is experiencing increased bearish pressure, as its market dynamics continue to weaken. After losing key high-time-frame resistance and establishing a distinct bearish order block, XRP has found it challenging to regain its upward momentum. In a related development, Franklin Templeton has launched a new XRP ETF on NYSE Arca, but this news has yet to impact the price action significantly. Repeated failures at critical moving averages, along with thinning support levels below the current price, indicate that XRP may be headed towards the $1.80 area.

Key Technical Insights for XRP Price

XRP price signals deeper downside, weakening structure points toward $1.80 - 1
XRPUSDT (1D) Chart, Source: TradingView

The price action of XRP is decisively bearish, as the asset continues to print consistent lower highs and lower lows. This downward trend became evident after breaking the high-timeframe resistance at $2.64, which led to the establishment of a bearish order block. When the price later tested this zone again, it was swiftly rejected, further highlighting the strength of the bearish structure and confirming that sellers remain dominant.

A critical technical factor obstructing XRP’s recovery is the 200-day moving average. The price has consistently failed to reclaim this essential level. Coupled with several shorter-term moving averages, this has created a cluster of resistance that caps upside momentum and fuels the ongoing downtrend.

Support beneath the current levels is rapidly degrading. The next significant support is positioned at $1.80, which now appears to be the most likely downside target given the current market momentum. With minimal structural support between the current prices and $1.80, the market is susceptible to a sharp drop into this area. The reaction of XRP at this level will be crucial in determining whether a short-term bounce or a more profound decline occurs.

Market Structure Raises Further Concerns

The persistent formation of lower highs indicates that selling pressure is still prevalent, and buyers have yet to mount a vigorous challenge to alter the trend. Without a substantial influx of bullish volume, the bearish trend is likely to carry on. The insufficient demand has rendered XRP vulnerable, increasing the chances of losing high-time-frame support and potentially leading to an even deeper price correction.

Overall, the current trend continues to signal strong bearish dominance. The price action shows little indication of structural recovery, and technical indicators support a move towards $1.80. Even though Bitwise’s new XRP ETF recorded a trading volume of $25 million on its first day, this surge in interest has not translated into any substantial improvement in XRP’s short-term market structure. Unless buyers decisively increase their participation, the formation of lower highs is expected to persist, heightening the risk of further declines.

Future Price Action Expectations

Should bearish momentum continue and trading volumes remain low, XRP is likely to test the $1.80 support zone soon. A robust reaction at this critical level will be vital for any potential recovery. Conversely, a failure to maintain this support could lead to a more significant price correction.