🔥 Key Takeaways
- XRP fails to sustain bullish momentum, dropping below $2 amid renewed selling pressure.
- Descending structure breakdown signals weakening bullish sentiment.
- New holder activity suggests potential for a reversal, but caution remains.
- Historical patterns from February 2022 hint at a possible 13% rally if support holds.
XRP Price Struggles as Bullish Setup Collapses
XRP has extended its decline after failing to capitalize on recent bullish momentum, slipping below the critical $2 mark. The altcoin had been consolidating within a descending structure, a pattern that often precedes a breakout. However, instead of an upward surge, renewed selling pressure has pushed the price lower, invalidating the bullish setup.
Investor Behavior Hints at Potential Reversal
Despite the bearish price action, on-chain data suggests that investor behavior may be setting the stage for a reversal. New holder activity indicates accumulation at lower levels, a sign that could precede a rebound. However, the increasing number of new holders also raises concerns about weak hands entering the market, which could lead to further downside if panic selling ensues.
Historical Parallels to February 2022
The current price structure bears resemblance to XRP’s behavior in February 2022, when a similar breakdown was followed by a 13% rally. If history repeats itself, XRP could find support near current levels and stage a recovery. Technical analysts will be watching key support zones closely, as a hold above these levels could validate the bullish scenario.
For now, XRP remains at a crossroads. While the potential for a rally exists, traders should monitor volume and holder behavior closely for confirmation of any trend reversal. The coming days will be crucial in determining whether XRP can shake off the current bearish pressure or if further downside is in store.
| Name | Price |
|---|---|
 Bitcoin(BTC) | $89,739.09 |
 Ethereum(ETH) | $3,014.30 |
 Tether USDt(USDT) | $1.00 |
 BNB(BNB) | $884.04 |
 XRP(XRP) | $1.96 |
 USDC(USDC) | $1.00 |
 Solana(SOL) | $130.38 |
 TRON(TRX) | $0.298856 |
 Dogecoin(DOGE) | $0.126822 |
 Cardano(ADA) | $0.363580 |