 ▲ XRP (XRP)/ChatGPT-generated image |
XRP encountered technical resistance, causing its overall price structure to shift into a downtrend. At the same time, analysts have warned of a potential breakdown below the $1 support level.
According to cryptocurrency-focused outlet NewsBTC on February 26 (local time), digital asset analyst CasiTrades warned that XRP’s price structure has turned bearish and that the risk of further declines is increasing. The analyst suggested that XRP could fall below $1 in its search for a bottom. A previously broken trendline has now turned into resistance, while selling pressure is gradually intensifying.
CasiTrades identified $1.11 and $0.87 as key downside targets, outlining a scenario in which XRP breaks below $1. Immediate resistance is currently formed at $1.40, and as long as the price remains below this level, the market is more likely to continue its downward trajectory. The analyst advised investors to remain cautious until XRP either reaches lower support levels or decisively breaks above the macro resistance at $1.65.
XRP recently showed movement above the $1.40 resistance level as Bitcoin (BTC) rebounded toward the $70,000 mark. If the price breaks through the $1.65 macro resistance, the current bearish structure could be invalidated. Changes have also been detected in the derivatives market. According to CoinGlass data, XRP trading volume surged 33% to $6.2 billion, while open interest increased 6% to $2.39 billion.
Another analyst, TARA, also noted the possibility that XRP has not yet reached a true bottom. TARA explained that breaking above the macro Fibonacci 0.618 level at $1.47 would be the first step in confirming a bottom. XRP is currently testing this level as resistance, which could serve as a critical turning point for the market’s direction. A breakout above $1.88 is considered necessary to confirm a definitive trend reversal.
As of the time of writing, XRP is trading around $1.44, up more than 6% from the previous day. However, experts believe that broader macro bearish pressure has not yet been fully resolved and are closely monitoring whether key support levels can be secured. Bitcoin’s price movement and the ability to break major technical resistance levels are expected to be crucial factors in determining whether XRP can defend the $1 level and shift into a sustained uptrend.
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