- XRP holds near the $1.80 support zone as pressure builds within a narrowing chart pattern.
- Open interest at $3.52B stays flat for weeks, showing low volatility and hesitant traders.
- Liquidation data stay balanced, suggesting no strong trend in the XRP market yet.
The XRP token is sitting tight near the $1.88–$1.80 support band after a shallow 2% recovery over the past day, a small pause in what has been a months-long slide. As per CoinMarketCap’s data, the altcoin shed more than 9% this week, slipping from $2.07, extending a broader bearish backdrop that has not changed much since mid-July.
That stretch began after XRP topped out around $3.66, marking the longest period of sustained selling pressure the asset has seen this year. For now, traders are watching whether the market is simply catching its breath or preparing for another leg down. The structure looks heavy, but the tape shows price compressing into an increasingly narrow pocket.
Triangle Pattern Tightens as Indicators Align With Downside Pressure
From a trend standpoint, the XRP token has been locked inside a symmetrical triangle, a formation that tends to appear near the midpoint of a larger move and reflects a temporary standoff between buyers and sellers. Lower highs continue to press from above while higher lows keep rising from below.
At press time, XRP is hovering near the apex of the triangle, leaving little room before the market is forced to choose a direction. Meanwhile, a quick scan of the technical indicators adds a bearish context to this outlook. From the daily chart analysis, the 50-day MA sits near $2.18, while the 20-day holds at $2.05, both well above current prices.
Traders often read that alignment as a sign that momentum has not yet turned. Such sentiments simply indicate that the XRP token has been trading below its short- and mid-range trend markers, reinforcing a bearish outlook. Besides, the RSI, stuck near 36, reinforces that view.
The index, as shown on the chart above, has not been able to break above the 50 midpoint since October, a reminder of how persistent the selling has been. However, the indicator is now edging closer to oversold territory, hinting at limited room for extended decline unless momentum shifts decisively.
Derivatives and Liquidation Activity Signal Market Indecision
On-chain and derivative signals paint a subdued picture. Per CoinGlass data, open interest across XRP futures has moved sideways for more than two months, now hovering at $3.52 billion. A flat line like that usually means fewer new bets coming in and less volatility as a result. This hints at a preference among traders to wait for clearer market cues.
Liquidation figures tell a similar story, though with sharper edges. Roughly $3.48 million in positions were wiped out in the past 24 hours. Yet, the split between sides is almost even, with $1.95 million in long liquidations and $1.52 million on the short side. When both camps take hits at the same pace, conviction tends to sit somewhere near zero.
These conditions often produce a stretch of uneven, range-bound movement, the type that frustrates momentum traders and rewards patience more than aggression. Until something breaks, a macro signal, or a liquidity pocket, XRP’s price is likely to drift inside familiar boundaries.
Related: PI Rebounds 5% From Key Support as Bearish Pressure Persists
Analysts Flag Key Levels as Wave Structures and Historical Support Emerge
Crypto analyst Dark Defender, known for forecasting XRP’s July peak and subsequent decline, states that XRP has completed a corrective phase within an Elliott Wave structure. According to his chart analysis, the token has finalized Wave 4, touching both earlier targets of $1.88 and the $3.66 high.
His technical projection places the next notable Fibonacci extension at $5.85, contingent on future market conditions. Another market watcher, points to $1.92 as the immediate barrier that XRP should hold to avoid heavier pressure toward $1.00.
His view is grounded in how the market has reacted to the same price band throughout previous cycles, an immediate risk parameter rather than directional assumptions. Across the board, both analysts emphasize the same area: the current shelf between $1.80 and $1.92.
Break it, and the chart opens to lower ranges already marked by earlier trading clusters, including $1.75 and $1.50. Hold it, and the triangle structure may offer XRP enough stability to move toward a cleaner read.
For now, the market sits between those possibilities, held in place by tightening trendlines, quiet derivatives activity, and a crowd waiting for a decisive move rather than driving one.
