XRP Faces Uncertain Future as Analyst Warns of Possible Deeper Retracement

Crypto analyst ChartNerd has highlighted several historical patterns that could keep XRP's price in check, despite its recent move away from $0.98.

The analyst examined XRP's price history since 2015 and found repeated instances where the cryptocurrency rallied back toward the monthly 20 EMA after losing it during major market downturns.

ChartNerd noted that these recoveries did not always mark the beginning of a sustained recovery, citing examples from the 2013 peak, 2018 market cycle, and 2021 market peak.

The analyst stressed that XRP's current structure does not yet provide enough confirmation to conclude that it has established a long-term bottom.