Ripple (XRP) Start the month of February on the wrong foot. It is that he crypto analyst Alí Martínez has indicated in clear technical framework which indicates that could fall further given the current conditions, according to Paul L. a Finbold.
The analyst based his perspective on the XRP weekly chartswhich show that the token is in a prolonged downtrend after failing to maintain momentum above the zone of $3.40 at the beginning of the cycle.
This rejection marked a important macroeconomic maximumfollowed by a constant sequence of decreasing highs and lows. Since then, the price action has deteriorated, with XRP recently falling below the mid-range level. $2.52which previously acted as a consolidation zone, confirming a general loss of the bullish structure.
By Martínez’s assessment, resistance is firmly established in 1.86 dollarsa level that aligns with the previous weekly supportwhich became resistance.
In fact, the outlook points to multiple failed attempts to recover this area, which consolidates it as a ceiling that sellers continue to defend. As long as XRP remains below this threshold, bullish rallies are likely to be limited and vulnerable to renewed selling pressure.
XRP Bearish Target
On the downside, the analysis highlighted 1.38 dollars like him next main supportwhich corresponds to a historical demand zone which previously triggered short-term rebounds. A decisive weekly close below this level would weaken the remaining bullish defenses and open the door to a deeper decline.
Below $1.38, the last notable support is located near 1.02 dollarsa level that closely aligns with the 1 dollar psychological mark and represents the last major bottom before a possible drop into unexplored bearish territory.
This outlook comes as XRP continues to struggle, in line with the overall cryptocurrency market sentiment.
The drop follows heavy losses across the market, with Bitcoin (BTC) falling below $75,000. The main drivers of the recession include macroeconomic uncertainty, changes in Federal Reserve leadership raising fears of prolonged high interest rates, geopolitical tensions, a partial shutdown of the US government, and the rotation of capital into safer assets.
Overall, no major negative news related to Ripple has emerged to drive the current price drop.
Ripple It is trading in the green at midday on Monday at $1.60. The 70-period moving average is above the last sixteen candles, RSI is up at 28 points and the MACD lines are below the zero level.
Long-term support is at $1.40. Meanwhile, Ei indicators are mixed.