XRP holders could be in for a longer period of time downward pressure as the cryptocurrency continues to lose ground in a weakening market. XRP’s performance this period has been disappointing enough that analysts have seemingly given up hope of price challenging higher resistance levels in the near term. They revealed that XRP did that slipped under key support zonesleaving few technical barriers to slow further declines.
XRP faces further decline as all support fails
A crypto market analyst who goes by the name ‘Guy on the Earth’ on shared a rather bleak look at XRP’s short-term prospects. The analyst announced this in his post on Thursday XRP looks primed for more pain while the market structure continues to deteriorate. He noted that price action is now in danger of losing Descending channelThis indicates general weakness rather than stabilization.
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According to the expert, the chances of XRP regaining the $1.95 level at the weekly close are incredibly low. However, the loss of this consolidation margin, which has kept the price in check since November 2024, opens the door to a technical downside target near $0.90. He also pointed out that a confirmation of the monthly time frame ties in with the two-week chart, which is quickly approaching its end in just a few days.
Guy on the Earth stated that it was little optimism links in the current pricing configuration. He emphasized that meaningful support levels are absent and market demand appears thin, leaving XRP vulnerable to continuation sales pressure and potential declines. The analyst’s assessment of the cryptocurrency’s performance was blunt, suggesting that the market “is what it is” at this stage.
Looking at the chart shared alongside the analysis, XRP is clearly trading within a well-defined downward channel that has been driving the price lower for several months. Each bounce attempt is capped by descending resistance, reinforcing the cryptocurrency’s bearish trend. Recent candles also show the price drifting towards the lower limit of the descending channel and increasing the risk of a correction.
The momentum indicators at the bottom of the chart also reflect the ongoing pressure. XRP’s Relative Strength Index (RSI) is at the bottom of its range, and shows continued weakness as the price does not recover.
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Analyst Weighs Near-Term Hopes for XRP
When asked by a member of the crypto community if a daily close within the descending channel could temporarily save XRP from a prolonged downturn, Guy on the Earth acknowledged the possibility. He declared that such a move could help in the short term, but described it as a “trivial” development compared to larger structural levels.
The crypto analyst’s focus remains on the $1.95 level at the two-week close, highlighting this as the most critical area to watch. He pointed out that this structure has remained intact over the past 13 months, making it a defining support zone for XRP. While jumping back to the canal the broader bearish trendthe expert revealed that it would at least suggest that XRP still has a chance to grow.
Featured image created with Dall.E, chart from Tradingview.com