XRP could be headed for a sharp downturn toward $1.7 as bearish technical indicators intensify, according to new market analysis. This outlook by cryptocurrency analyst TradingShot, XRP has been trading within a long-term ascending channel for nearly a year, but its recent price structure suggests growing downside risk. In an October 17 TradingView analysis , XRP was shown to be trading within a channel up pattern since late November 2024 but recently entered a second bearish phase after last week’s sell-off. XRP price analysis chart. Source: TradingView The price has broken below the mid-range of the ascending channel, signaling growing downward momentum. XRP key price levels to watch The analyst noted that a bearish crossover between the 1-day 50-day and 100-day moving averages has reinforced the negative outlook, echoing a similar signal earlier this year that drove XRP below the 0.786 Fibonacci retracement level. If the current decline follows the same pattern as the previous drop, XRP could lose more than 50% from its recent levels. At the same time, fibonacci support levels point to a key downside target at $1.93, with a deeper slide potentially extending to $1.75, still within the broader ascending channel. The bearish outlook is reinforced by weak market sentiment, a lack of bullish catalysts, and renewed U.S.–China trade tensions, which continue to pressure risk assets. XRP price analysis By press time, XRP was trading at $2.32 having modestly plunged by about 1.5% in the past 24 hours while on the weekly timeline, XRP is also in the red at 3%. XRP seven-day price chart. Source: Finbold Meanwhile, XRP is trading below both the 50-day SMA at $2.85 and the 200-day SMA at $2.62, reinforcing a bearish trend and suggesting further downside risk unless it recovers these levels. The 14-day RSI at 30.25 signals weak buying momentum and rising selling pressure, though its proximity to oversold territory hints at the possibility of a short-term relief bounce. Featured image via Shutterstock The post XRP flashing signs of crashing to $1.7, warns expert appeared first on Finbold .
