XRP Price Slides as Bearish Chart Pattern Trumps Ripple Swell News The price of XRP is confirming a bearish breakdown on its charts, with a significant technical indicator known as a death cross approaching. This negative momentum is unfolding even as Ripple makes a series of optimistic announcements at its annual Swell conference, suggesting that market sentiment is currently being driven more by technical factors than by fundamental news. The current trajectory points toward a test of key support levels, with some analysts eyeing a potential move down toward the 1.65 dollar area. The primary concern for traders is the completion of a bear flag pattern. A bear flag is a continuation pattern that typically forms during a downtrend, representing a brief pause or consolidation before the previous downward movement resumes. The recent price action for XRP has now broken below the lower boundary of this flag formation. This breakdown is interpreted by chart analysts as a signal that the selling pressure is likely to continue, increasing the probability of further losses in the near term. Compounding this bearish technical picture is the looming formation of a death cross on the daily chart. A death cross occurs when an asset’s 50-day moving average crosses below its 200-day moving average. This is widely viewed as a long-term bearish signal, indicating that the medium-term momentum has turned decisively negative relative to the long-term trend. The approach of this crossover is adding to the pessimistic outlook and may be discouraging new buyers from entering the market. The combination of the bear flag breakdown and the impending death cross creates a powerful narrative of sustained selling pressure. This has overshadowed the generally positive developments coming out of the Ripple Swell event. Despite Ripple showcasing new partnerships and product updates designed to expand the utility and adoption of the XRP Ledger, the market’s reaction has been tepid at best. This divergence highlights a market that is currently more focused on chart patterns and trader psychology than on corporate announcements. Looking ahead, the immediate focus for XRP is on key support levels. Should the current downtrend persist, the first significant support zone is seen around the 1.65 dollar mark. This level has acted as both support and resistance in the past, giving it technical importance. A decisive break below this support could open the door for a steeper decline, with the next major target potentially lying near 1.50 dollars. On the upside, any recovery would need to reclaim the broken bear flag support, now turned resistance, to invalidate the current bearish setup. For investors and traders, this situation presents a challenging environment. The bearish technical signals are clear and should not be ignored. The lack of a positive price response to what is typically considered bullish news from Ripple is also a concerning sign. It suggests that the market needs a stronger catalyst or a significant shift in overall market sentiment to reverse the current downward course. Until such a catalyst emerges, the path of least resistance for XRP appears to be lower, with the 1.65 dollar level acting as the next critical test for the asset.
