What to Know:
- Ali Charts identified a bearish flag, suggesting XRP could decline toward $1.04 if rising support breaks beneath persistent resistance.
- XRP remains trapped below $1.096 resistance while buyers defend ascending support, leaving the next breakout crucial for short-term direction.
- A confirmed breakdown would strengthen bearish momentum, but reclaiming resistance could invalidate the pattern and improve XRP’s short-term outlook significantly.
Crypto analyst Ali Charts has identified a bearish chart pattern that could send XRP to $1.04 if the current setup confirms. According to the analyst, the cryptocurrency is trading within a potential bearish flag on the one-hour chart, keeping traders focused on whether support can hold or selling pressure will intensify.
XRP Trades Inside a Potential Bearish Flag
According to Ali Charts, XRP’s latest price action resembles a bearish flag, a pattern that often appears during an existing downtrend. The formation developed after XRP declined from around $1.12 before entering a period of gradual consolidation.
Instead of extending its recovery, the token has traded within a narrowing range. The chart outlines an ascending support trendline while horizontal resistance remains around $1.096. Consequently, the structure reflects the characteristics of a bearish continuation pattern.
Ali Charts explained that the downside target depends on confirmation of the pattern. If XRP breaks below the rising support line, the previous downward trend could resume and push the asset toward $1.04.
The analyst illustrated this projection with a downward path extending from the current consolidation area. However, the bearish outlook remains conditional because XRP has not yet completed a downside breakout. Until that happens, the pattern remains only a possible scenario.
Also Read: Analyst Reveals XRP Path to $15 as Critical Support Keeps Bull Case Alive Ahead
Key Resistance Keeps Buyers Under Pressure
XRP has tested the $1.096 resistance level several times without producing a convincing breakout. Those repeated rejections suggest that sellers continue to defend that area despite steady buying activity.
Meanwhile, buyers have managed to protect the ascending support line, preventing a deeper decline. This ongoing battle between support and resistance has kept XRP locked inside the current trading range.
A decisive break below support, especially with stronger trading volume, would strengthen the bearish case outlined by Ali Charts. Conversely, a sustained move above $1.096 would invalidate the bearish flag and improve the short-term outlook by turning resistance into support.
XRP remains within a critical technical structure as traders await confirmation of its next move. According to Ali Charts, a confirmed breakdown could send the token toward $1.04, while a breakout above resistance would weaken the bearish scenario and shift momentum back toward buyers.
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