XRP Risks 23% Drop After Sliding Below $1.60
XRP (XRP) price dropped below $1.50 over the weekend, its lowest level in over 14 months. Now, a bearish technical setup on the charts suggests that the downtrend may extend throughout February. Key takeaways: XRP’s…
Overview
XRP plunged below $1.50 over the weekend — its weakest price in more than 14 months — and a bearish technical setup suggests the downtrend could continue into February.
Technical picture
On Saturday XRP lost roughly 14%, falling from about $1.75 to $1.50 and breaking the $1.60 support level for the first time since November 2024. The move completed a breakdown from a bear pennant on the four-hour chart. After breaking the pennant’s lower trendline, XRP briefly retested that line. If the retest fails and a four-hour candle closes beneath roughly $1.58, the measured target of the pattern is about $1.22 — roughly a 23% decline from current levels.
Analyst commentary
Pseudonymous analyst AltCryptoGems described the January bounce to $2.40 as a “fakeout,” pointing to a fresh lower low and warning the market sits “on the verge of a disastrous collapse in a huge no-support zone.” Trader Alex Clay added that, having breached the $1.60 double-bottom support, the path is open for a move toward $1 or lower.
Support and historical context
Cointelegraph previously identified aggregated realized price near $1.48 as the next major support. A loss of that level would put the average holder underwater and echo conditions from the 2022 bear phase that eventually produced a roughly 50% drawdown toward $0.30.
Order flow and open interest
The 90-day Spot Taker Cumulative Volume Delta (CVD) shows taker buy volume has fallen sharply since early January, a pattern that historically has preceded 28%–50% drawdowns over weeks. Futures open interest has also declined — falling to $2.61 billion on Wednesday from $4.55 billion on Jan. 6. Declining open interest alongside falling prices can indicate a weakening of the bearish trend or the potential for a reversal, which might allow bulls to attempt a retest of overhead resistance near $1.85 (a level that served as support through much of 2025).
Disclaimer
This article is for informational purposes only and is not investment advice or a recommendation. All trading and investment decisions carry risk; readers should perform their own research. While efforts are made to provide accurate information, no guarantee is given regarding completeness or reliability, and forward-looking statements are subject to risks and uncertainties. Cointelegraph is not liable for losses resulting from reliance on this content.