Saad Ullah
⬤ XRP dropped toward $1.50, stretching its correction while staying locked inside a well-defined descending channel that's been guiding price action for months. The selloff came with fresh downside pressure, pushing price back toward the channel's lower edge. Even with the sharp pullback, the weekly structure still looks technically solid.
⬤ The chart shows XRP grinding lower inside a descending channel that started after the rally toward mid-$3.00. Recent weekly candles put price near channel support around $1.50, with a quick dip below $1.61 before finding some stability. This zone has triggered reactions before and now marks an important reference point for momentum. Volatility's picked up, but price stays within the channel walls.
⬤ Key resistance levels are clearly marked. Former support near $1.88, now flipped to resistance, stands between recovery attempts and continued weakness. Until XRP pushes back above higher channel levels, price action will likely stay corrective. But the channel itself remains unbroken, meaning the longer-term technical picture hasn't been invalidated by this recent decline.
⬤ This matters because it shows the gap between short-term pressure and longer-term structure. Holding above the channel's lower boundary keeps the broader framework alive, while repeated support tests make price more sensitive to wider market moves. How XRP handles channel support will shape whether we see continuation, consolidation, or a structural shift on the weekly timeframe.
Saad Ullah
