XRP Price Plunges into Bearish Territory

XRP's price is facing a potential downturn of approximately 20% within weeks, according to technical analysis. The token is currently trading in a descending triangle pattern on its daily chart, which typically forms when buyers repeatedly defend a fixed support level while selling pressure strengthens from above.

For XRP to confirm the bearish setup, it needs to close decisively below $1.04, which would initially expose the psychological $1 level. Continued selling may push the token toward $0.93-$0.95 before reaching the triangle's projected downside target near $0.84-$0.85.

The token also remains below its major exponential moving averages (EMAs), including the 20-day EMA, 50-day EMA, 100-day EMA, and 200-day EMA, indicating resistance across both short- and long-term timeframes. The daily relative strength index (RSI) is near 40, reflecting weak momentum without reaching oversold territory.