Ripple’s XRP cryptocurrency has faced immense selling pressure over the past month, with its price falling 13% in the last 30 days. The asset’s dropoff slowed last week, but some analysts are still fearful of a further slump. President Donald Trump’s sweeping global tariff announcement caused concerns in both the stock and crypto markets. Thus, top tokens like XRP, ETH, and even SOL are facing pressure.
The introduction of tariffs triggered $19 million in liquidations over the last day. Moreover, XRP is now facing the critical $2 support. Indeed, the token fell to the $1.9 level Thursday but has rebounded upwards over the last 48 hours, according to CoinMarketCap. Experts have identified a descending triangle on the asset’s daily chart. Subsequently, the crypto’s price could drop even further with a continuing sell-off. Ultimately, it could settle at $0.62 lows if it fails to stay above the $2 mark.
Furthermore, popular crypto analyst, Ali Martinez, recently posted on X about a major technical red flag emerging in Ripple XRP’s price. The coin recently broke below the $2 neckline of a head-and-shoulders pattern, a bearish formation commonly associated with trend reversals and steep corrections. If XRP fails to hold above the $2 level, Martinez projects the pattern could confirm a breakdown with a downside target of $1.30. This would represent a potential 36.6% decline from current levels.
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Another veteran analyst and trader, Peter Brandt, says XRP is exhibiting a classic head-and-shoulders topping pattern that could signal trouble ahead. “XRP bears chalk out a H&S pattern,” says Brandt. “This could become bullish if 3.0 is exceeded; otherwise, the implications is a decline to 1.07.” The head-and-shoulders pattern appearing right now is made of three chart peaks, with the middle one (the “head“) being at the highest level, while the two outer peaks (the “shoulders“) are somewhat lower. A breakdown below the pattern’s neckline around the $1.90-$2.00 range could also trigger some significant sell-offs.
The total crypto market volume over the last 24 hours is $101.41B, which makes a 21.47% decrease. While the advancement of Paul Atkins’ nomination to lead the U.S. Securities and Exchange Commission could eventually pave the way for more favorable crypto regulation, market sentiment remains fragile.
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