The XRP currency (XRPBitcoin is down about 5%.BTC( ) in the last week and confirms a pattern that is bearish, indicating the possibility of further declines.
The key takeaways
- The XRP/BTC descending triangular pattern in the weekly chart indicates a 40% possible drop towards 0.000011 BTC.
- A recovery in the XRP value is supported by persistent demand from institutional investors through US-based Spot ETFs.
XRP’s descending triangular breakdown has begun
The XRP/BTC rate has been consolidating in a weekly descending triangle since late 2024.
Technically, triangles that descend are usually considered bearish. As shown below, the pattern was confirmed after the price closed below the triangle’s trend line lower at 0.000096 BTC.
To determine the downside target, take the height of the triangular pattern and place it below the price’s break-down under the lower trendline.
Weekly chart of XRP/BTC Source: Cointelegraph/TradingView
Using this method, XRP/BTC’s calculated downside target is near 0.000011 BTC or about 40.5% lower than current levels.
“$XRP/BTC looks edgy,” ChartNerd is a technical analyst. said In a post published on X recently, it was stated that the loss of support at $0.00091 will lead to further declines in both the XRP/BTC and XRP/USD ratios.
Weekly chart of XRP/BTC Source: Chart Nerd
The RSI, however, is close to oversold, at 33. These levels have marked previous macro-bottoms in the ratio as shown by mid and late 2024. The current downward trend could be ending soon.
Cointelegraph reportedAs several technical indicators and those on-chain send bottoming signal, we can expect a similar price recovery for XRP.
XRP ETF Demand Makes a Comeback
According to SoSoValue, the demand from institutions for XRP-based investment products is increasing.
On Thursday, US-based exchange traded funds that hold spot XRP reported net inflows of $3.89 millions. It was the ninth consecutive day of net inflows. The total amount is $73.78 millions. The cumulative amount of inflows has now reached nearly $1.28 Billion and the AUM is $1.1 Billion.
US spot XRP flows chart. Source: SoSoValue
The price of XRP is expected to decline 22% by 2026, and XRP will still be behind Bitcoin.
“$XRP ETF inflows continue,” Don Digital Finance said In a post on Friday X.
There are many signs that you should be aware of. “steady institutional demand as accumulation continues despite sideways price action,” The analyst also added.
“Institutional demand is rising fast as big money continues flowing into XRP exposure,” Ledger man, fellow analyst said, adding:
“This could be a major signal that confidence in XRP is growing stronger than ever.”
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Source: cointelegraph.com
