- XRP stays supported below as analysts warn deeper losses could emerge soon.
- ChartNerd identifies the $1.30 level as XRP’s most critical short-term market support.
- Weak momentum indicators continue signaling growing bearish pressure across XRP trading.
Crypto analyst ChartNerd raised concerns over XRP’s weakening market structure after the token remained below a key ascending support line for five consecutive days. According to a recent post on X, the analyst warned that XRP could slide toward the lower $1 range if buyers fail to defend the critical $1.30 support zone.
XRP Triangle Breakdown Increases Bearish Pressure
According to the chart shared by ChartNerd, XRP previously traded inside a symmetrical triangle pattern formed by descending resistance and rising support levels. That structure reflected months of tightening price action as buyers and sellers continued battling for market control. However, XRP recently moved beneath the ascending support trendline. Consequently, traders now interpret the breakdown as a sign that bearish momentum continues strengthening across the market.
Also Read: South Korea Crypto Tax Opposition Reaches Parliament as Petition Surges
ChartNerd explained that XRP must reclaim the triangle structure before another retest of the $1.50 resistance area becomes realistic. Besides, the analyst stressed that the market has already spent several sessions below the broken support level. According to the analysis, the $1.30 region now serves as XRP’s most important short-term support zone. If sellers push the asset below that level, the analyst expects a broader decline toward the lower-$1 range in the coming weeks.
Meanwhile, XRP struggled to maintain bullish momentum despite several recovery attempts throughout May. Moreover, broader weakness across the crypto market added pressure on large-cap altcoins during recent sessions.
Technical Indicators Continue Reflecting Weak Momentum
Momentum indicators on the chart also supported the bearish outlook highlighted by ChartNerd. The Stochastic RSI dropped near 7.33, placing the indicator deep inside oversold territory. Although oversold conditions sometimes trigger temporary rebounds, they also confirm aggressive selling activity. Additionally, XRP repeatedly failed to sustain upward movement during recent recovery attempts.
The Relative Strength Index remained near 42.82, staying below the neutral 50 level. That reading often signals weakening buyer strength and fading bullish momentum across the market. Moreover, the RSI trendline has continued to form lower highs in recent weeks, reinforcing concerns that sellers still control market direction.
XRP remains under pressure after breaking below a major ascending support line. Holding the $1.30 support zone now appears critical for bulls attempting to prevent a deeper decline toward the lower $1 range.
Also Read: Huge: XRP Network Records Major Milestone Amid Slow Market- Details
