Will $XRP price crash to $1 as bearish pennant pattern takes shape?
XRP is showing increasing signs of weakness after dropping around 5% recently, with price now trading near $1.38 and extending its decline significantly from earlier highs. The pullback comes as network activity and retail participation continue to slow, reducing overall demand for the asset.
On-chain data highlights this weakness, with transaction volume, active users, and network fees all trending downward. A lower burn rate is also reducing deflationary pressure, making it harder for XRP to sustain upward momentum in the current market environment.
From a technical perspective, XRP has formed a bearish pennant pattern, which typically signals continuation of a downtrend. Additional indicators, including a negative money flow reading, suggest that capital is flowing out of the asset as larger players reduce exposure.
If this bearish structure plays out, the $1 level is now the key support to watch. A breakdown below this zone could open the door for further downside, while any recovery would require a strong shift in momentum and renewed buying interest.