- XRP erased previous gains after failing to break $1.55 resistance, pushing prices toward the lower boundary of its trading channel.
- Ali Martinez warned that losing the critical $0.99 support level could trigger another correction, potentially sending XRP toward $0.80.
- XRP faces resistance at $1.13, $1.29, and $1.40, with stronger buying pressure needed to challenge the previous $1.55 peak.
Crypto analyst Ali Martinez has warned that XRP could decline toward $0.80 following its failure to overcome major resistance. According to Martinez in a recent X post, XRP has erased its previous gains after reversing from $1.55 toward its trading channel’s lower boundary, placing the critical $0.99 support level at risk of a deeper breakdown.
XRP Faces Further Losses Following $1.55 Resistance Rejection
Martinez’s three-day chart shows XRP losing momentum after buyers failed to push prices above the $1.55 resistance level. The rejection triggered successive declines, reversing gains accumulated during the cryptocurrency’s previous recovery.
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Initially, XRP slipped below $1.40 before extending losses toward the $1.29 support region. Selling pressure subsequently intensified, pushing the cryptocurrency beneath $1.13 and closer to its established lower trading boundary.
Significantly, the chart shows XRP previously rebounding from approximately $1.03 before climbing toward $1.55 during an earlier recovery. Buyers failed to sustain that upward movement, allowing sellers to regain control of the broader price structure. The latest chart places XRP near $1.026, leaving limited distance between its current position and Martinez’s critical support threshold.
Analyst Identifies $0.99 as Key Support Before Potential $0.80 Decline
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Martinez warned that XRP must defend the $0.99 support level to avoid a deeper correction toward $0.80, following repeated failures to reclaim higher resistance levels. Based on the chart’s displayed price, a decline from $1.026 to $0.80 would represent approximately 22% downside, with the target sitting 19.2% below the crucial $0.99 support level.
The chart identifies $1.13 and $1.29 as potential resistance levels during any recovery attempt, followed by stronger barriers near $1.40 and the previous $1.55 rejection zone. Martinez’s analysis places $0.99 at the center of XRP’s next potential movement, with a sustained breakdown strengthening the bearish outlook while successful support defense could encourage recovery.
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