As XRP’s price falls below $1.60, it risks another 23% drop.

It is a cryptocurrency that allows you to buy and sell XRP.XRPPrice dropped under $1.50 this weekend. It was its lowest price in 14 months. The charts show a technical bearish setup, which suggests that this downtrend could continue into February.

Takeaways from the conference:

• XRP bear pennant targets $1.22 on four-hour chart.

• Open interest for XRP has dropped to 2,611 billion dollars, giving some hope for bulls.

The XRP chart is a classic bear pennant.

The XRP market price dropped by 14% on Saturday from a $1.75 high to a $1.50 low, and lost its $1.60 resistance level for the very first time in November 2024. 

It has now entered the phase of breakdown. bear pennant As shown in the diagram below, set up as follows:

Related: Price predictions 1/30: BTC, ETH, BNB, XRP, SOL, DOGE, ADA, BCH, HYPE, XMR

XRP fell below the lower trendline of the pennant on Tuesday and then bounced back to retest this as support. If the pennant’s lower trendline is broken, and a 4-hour candlestick falls below $1.58 after failing to retest it as support, then the price will likely drop.

Calculated by adding the drop height to the breakout, the measured target for the bear pennant is $1.22. This represents a drop of 23% from the current market price.

XRP’s rise to $2.40 per XRP in January was a success. “fakeout” As well as “price formed a fresh lower low,” AltCryptoGems pseudonymous analysts said Additions to a post made on X recently:

“The downtrend remains intact and we are on the verge of a disastrous collapse in a huge no-support zone.”

Alex Clay, a trader and investor said the road is open for a fall to $1 or less after breaking the $1.60 support line.

Cointelegraph reportedXRP’s next significant support level lies near the aggregated realized price of $1.48. The average holder would be underwater if this support level was lost. This is similar to the bear market of 2022 that ended in a drawdown by 50% towards $0.30.

Buyers of XRP step back

The CVD (90-day spot taker cumulative volume delta), which tracks whether buyers or sellers are driving market orders, shows that the number of buy orders has been falling sharply (taker purchase) since January.

While the demand side has predominated since November 20,25, the buy orders fell sharply in the last thirty days. CryptoQuant.

The XRP price is showing signs of a waning bullish sentiment and a rising downside risk. 

In the last few weeks, sharp falls in CVD spot prices have been accompanied with price declines of 28%-50%.

In the current downward trend, the declining futures of XRP are one option for bulls. open interest (OI). On Wednesday, it dropped dramatically to $2.61bn from $4.55bn on Jan. 6 

OI that falls in tandem with falling prices indicates either a declining bearish tendency or the possibility of a trend reversal.

It could be a good opportunity for bulls to push the price up and try the crucial overhead resistance level of about $1.85. That was the support during most 2025.