After consolidating for more than 12 weeks, $XRP price has approached the apex of a symmetrical triangle pattern, signaling an imminent directional breakout in the near term.
Despite robust fundamentals that have led to reduced exchange supply over the past year, as Finbold noted, $XRP price has signaled further weakness. Moreover, the token lost a crucial support level around $1.80 earlier this year, which had served as a strong buy wall in 2025.
Amid prolonged low liquidity for the token, exacerbated by the October 11, 2025, crypto crash, as Finbold reported, $XRP price now faces a further downtrend. Furthermore, this altcoin was recently rejected again at the 100-day Simple Moving Average (SMA).
As such, $XRP price could break down from its multi-week ascending support to extend the current corrective sequence, with a potential move below $1.00. Conversely, a confirmed close above the descending resistance trendline would invalidate the bearish structure and signal the start of a fresh bullish leg.
Key targets for the $XRP price?
From a technical analysis standpoint, $XRP price could be trapped in the first corrective wave of a macro Elliott wave, a theory that states markets move in five waves driven by collective investor psychology, according to analysis from trading expert alias Egrag Crypto. The analyst suggested that $XRP price has not completed the second wave, with the next major targets around $1.13.
However, this analyst noted that the $XRP price could drop towards a liquidity zone between $0.90 and $0.73 if the support level around $1.13 fails to hold. Furthermore, $0.73 coincides with a 3-day 0.702 Fibonacci retracement.
Why is the token bearish now?
Despite the longer-term reduction in exchange holdings, short-term exchange inflows are adding near-term selling pressure. In the past 24 hours, approximately 7,500,156 $XRP, valued at roughly $10.63 million at press time, were added to the top 41 tracked exchanges, based on metrics from X user @Chachakobe4er.
Historically, a rising supply of $XRP on crypto exchanges has led to increased selling pressure and further correction, and vice versa. As a result, if $XRP’s supply on exchanges continues to rise in the coming days, the bearish pressure will surge.
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