XRP's Recovery May Be Short-Lived as Historical Data Suggests Further Decline

XRP has been recovering from its recent decline, but historical market data suggests it may still have room to fall before finding its cycle bottom.

Last week, XRP climbed to $1.69, but sellers pushed the price back down, and it fell toward $1.42.

The weekly chart indicates that XRP may not have reached its cycle bottom yet, as it has traded similarly during previous bear cycles.

XRP remains inside a long-term Channel Up pattern, which has contained its major price movements since the April 2021 Cycle Top.

A decline toward $1 to $0.85 is possible, with several technical levels pointing to this range as a potential bottom.