XRP's Joyride From $3.66 Now Detours Through $1 Town

If XRP's price chart were a dating profile, it would say "swipe left." The charts remain decidedly bearish as signs mount that the $1 level could soon be tested as support—not as a pit stop, but potentially as a new home for the dispirited.

XRP currently trades 64% below its multi-year high of $3.66, a haircut so brutal it makes a bad crypto barber look like a precision artist. And the tea leaves suggest the correction might not be done taking selfies with your portfolio just yet.

For those catching up: XRP faces stiff resistance above $1.40, where over 1.1 billion tokens were previously acquired. Daily active addresses are declining, signaling cooling network demand. And spot ETF inflows have turned sour, pointing to institutional demand that's gone on permanent vacation.

Let's talk about the symmetrical triangle, that classic technical pattern that traders love almost as much as they love blaming the chart for their problems. Data from TradingView shows XRP trading below a key resistance zone on the daily chart—the $1.40-$1.45 supply zone, where the upper trend line of a symmetrical triangle, the 200-week exponential moving average (EMA), and the 50-day EMA all throw a crowded party together.

This zone is particularly spicy because the cost-basis distribution heatmap shows that investors acquired over 1.1 billion XRP within this price range. Imagine being surrounded by a million people who bought at your entry point and are just waiting to sell at break-even. That's the resistance XRP is currently cozying up to—not exactly a fun party to walk into.

The price is now retesting the lower boundary of that symmetrical triangle at $1.30. A break below this level would confirm the continuation of the downtrend, first toward the 200-week SMA around $1.14, and later to the measured target of the triangle at $1. For those keeping score at home, that's the scenic route from "meh" to "maybe this was a mistake."

"If XRP loses its current support, data highlights downside targets near $1.146 and $0.884," analysts at CryptoBasic said on Wednesday's post on X, adding: "The broader bullish structure remains valid only if XRP holds above the critical $0.93 level, which