XRP holders could be facing another prolonged stretch of downside pressure as the cryptocurrency continues to lose ground in a weakening market. XRP’s performance this period has been underwhelming enough that analysts have seemingly given up hope of the price challenging higher resistance levels in the near term. They revealed that XRP has slipped below key support zones, leaving 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 X has shared a rather bleak outlook on XRP’s near-term prospects. In his post on Thursday, the analyst revealed that XRP looks set for more pain as the market structure continues to deteriorate. He noted that price action is now threatening to lose its Descending Channel, signaling overall weakness rather than stabilization.
According to the expert, the probability of XRP reclaiming the $1.95 level by the weekly close is incredibly low. However, losing this consolidation range that has contained price since November 2024 opens the door to a technical downside target near $0.90. He also pointed out that a confirmation from the monthly timeframe aligns with the two-week chart, which is fast approaching its close in just a few days.
Guy on the Earth stated there was little optimism left in the current price setup. He emphasized that no meaningful support levels are holding, and the market demand appears thin, leaving XRP vulnerable to continued selling pressure and potential declines. The analyst’s review 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 guided price lower for several months now. Each bounce attempt has been capped by descending resistance, reinforcing the cryptocurrency’s bearish trend. Recent candles also show price drifting toward the lower boundary of the Descending Channel, increasing the risk of a correction.
Momentum indicators at the bottom of the chart also reflect ongoing pressure. XRP’s Relative Strength Index (RSI) sits near the lower end of its range, showing persistent weakness as price fails to recover.
Analyst Weighs Short-Term Hope For XRP
When asked by a crypto community member if a daily close back inside the Descending Channel could temporarily save XRP from an extended downturn, Guy on the Earth acknowledged the possibility. He stated 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 on the two-week close, highlighting it as the most critical area to watch. He pointed out that this structure has remained intact for the past 13 months, making it a defining support zone for XRP. While bouncing back to the channel would not erase the broader bearish trend, the expert revealed that it would at least suggest that XRP still has a chance to grow.
Source: https://www.newsbtc.com/analysis/xrp/xrp-holders-in-for-more-pain/
