XRP risked a further slide toward $1 as bearish technical formations converged with rising inflows to exchanges.
Key takeaways:
– A symmetrical triangle breakdown targets about $0.95, roughly 29% below current levels.
– More than 472 million XRP (about $652 million) moved to Binance, suggesting increased selling pressure.
Resistance and technical setup
XRP’s 13% rally to roughly $1.43 ran into resistance at $1.39–$1.43 and has retraced to about $1.34. Glassnode’s cost-basis heatmap shows a large supply cluster in that zone, with nearly 1.48 billion XRP acquired over the past 30 days, creating a stiff overhead barrier.
The XRP/USD pair is trading below the lower trend line of a symmetrical triangle near $1.35. A daily close beneath that line would confirm the triangle breakdown and open the path to the pattern’s measured target of about $0.95. A break and close below the lower boundary of a falling channel near $1.20 would put the Feb. 6 low of $1.11 at risk, potentially exposing psychological support at $1. Analysts using the two-day chart have also warned a drop toward $0.80 could occur if whale selling intensifies.
Support watchers
Analyst BitGuru noted a key support band at $1.20–$1.22: if that base holds and buyers step in, a quick rebound toward $1.80–$2.20 could signal the start of a recovery. Absent buyer intervention, downside scenarios remain more likely.
Exchange inflows and supply
Data from CryptoQuant show over 472 million XRP (about $652 million) flowed to Binance in the past week—the largest inflow in February. Such transfers often indicate an increased willingness to sell or a defensive repositioning of liquidity. CryptoQuant analyst Darkfost said these inflows can create conditions for sudden selling pressure capable of impacting price action in the short term.
XRP balances on Binance rose to about 2.73 billion from 2.55 billion in mid-February, an increase of roughly 180 million XRP (+7%) in under three weeks. Rising exchange reserves are typically viewed as bearish because they enlarge the supply available for trading and can heighten near-term selling pressure.
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