XRP Price Falters at Key Support Level as Bearish Momentum Builds

XRP's price action has been closely watched in recent sessions as the token struggles to hold gains made earlier in the week. The 4-hour chart shows a descending triangle forming, indicating potential further downside if support breaks.

The MACD has crossed below the signal line, and red histogram bars are growing, suggesting increasing selling pressure. The RSI has fallen to around 40, indicating weakening buying power.

Analysts have been pointing to a potential big price move in XRP, with some predicting a cycle bottom at $1.30. This would be in line with historical trends, which suggest gains of up to 1,460% following similar RSI readings in the past.

Institutional interest remains strong, with XRP-linked ETF products seeing inflows of between $15.74 million and $25 million last week. While this is a significant amount, it still lags behind other major cryptocurrencies like Bitcoin and Ethereum.