Here Are Reasons Why XRP Could Fall to $1.55

XRP continues to show severe price weakness, and analysis now suggests a further sideways trend to a 12-month low.

XRP has dropped below the $2 psychological level, owing to an 8% pullback in the past 24 hours. This brings its weekly loss to 15%, making it unprofitable for those who bought at the start of the year.

XRP Risks Further Correction

Meanwhile, the downward momentum has persisted, with whale sell-offs and a broader market trend exerting bearish pressure. Despite its already significant correction, a recent analysis predicts steeper declines in XRP price.

A look at the 8-hour chart on the XRPUSD pair shows that XRP has been forming a descending triangle since a high of $3.10 on October 2. The shape has contained the price since then until it broke down on November 17.

Descending Triangle Breakdown on 8H XRP ChartXRP retested the triangle’s lower support around $2.20 but could not reclaim it, breeding further corrections. With the demand zone and the $2 level now lost, all indicators suggest the bearish momentum could continue to a 12-month low of $1.55, marking an 18% correction from the current market price of $1.90.