 ▲ XRP / ChatGPT-generated image |
XRP has fallen below major moving averages, extending its decline and reaching a precarious point where it is threatening the psychological last line of defense at the $1 level.
According to cryptocurrency outlet U.Today on February 24 (local time), XRP has lost its rebound momentum and is forming a clear downward structure. Every recent attempt at a temporary price recovery has been immediately blocked by strong selling pressure, demonstrating that the overall market trend remains tilted to the downside. XRP is currently trading above the mid-$1 range, but as lower highs continue to form, the gap toward the $1 mark is rapidly narrowing.
The sell-off triggered by a break below the previous consolidation range has suppressed even short-term rebound attempts, preventing any meaningful change to the broader market structure. While slight stabilization has been observed near local support levels on the chart, it has merely slowed the pace of decline and remains significantly weaker than past rebound cases. Unless XRP decisively reclaims upper resistance levels, the price is likely to tilt downward again and test deeper support zones.
Although the scale of Ripple’s stablecoin issuance is nearing $2 billion, it appears insufficient to reverse the ongoing price decline. From a technical perspective, the $1 level carries significant meaning as both structural support and a psychological barrier for investors. If XRP continues to post new lows and fails to recover key upper moving averages, persistent market pressure will inevitably push the price closer to that critical threshold.
The sustained bearish trend is increasing the likelihood of a test of the $1 level, and calls for caution in asset management are growing among investors. XRP remains in the process of searching for a clear bottom, while market confidence remains subdued. As the current price structure signals further downside rather than a reversal, analyses suggesting a reassessment of risk exposure are gaining traction.
The inability of XRP to break through upper resistance zones while gradually lowering its support levels darkens prospects for a short-term recovery. Without strong capital inflows sufficient to escape the prevailing downward structure, downward pressure toward $1 is expected to persist for the time being. Market participants are advised to maintain a conservative stance and focus on risk management until clear indicators of a price reversal emerge.
Disclaimer: This article is provided for investment reference purposes only and does not assume responsibility for any investment losses incurred based on this information. The content should be interpreted solely for informational purposes.