XRP price on the brink of a brutal drop as risky charts loom

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XRP’s price trudges downward for a second week, the market a weary crowd bending under its own weight, surrendering the gains it snatched in the bright hours of the year. The street talks in cracked voices, and the ticker mumbles like a tired furnace. 😅

not enough to lift the whole building. 🏢

Another sign that demand is falling, with the futures open interest being in a downward trend since January 6. It has moved from a high of $4.5 billion to $3.9 billion today. The machine grinds on, but the belt is slipping. 🪙

XRP price analysis points to a bearish breakout

The weekly chart shows that XRP has slumped from a record high of $3.6550 in July to the current $2.05. A closer look reveals the fingerprints of several bearish patterns-signs that the crowd did not bring enough torches to light the truth. It formed a dragonfly doji candlestick pattern last week. 🕯️

This pattern consists of a tiny body and a long upper shadow and is a common bearish reversal sign. It has also formed a double-top pattern at $3.4045 and a neckline at $1.6140, its lowest swing in April this year. A map of a city that once shone now crossing into the shadows. 🗺️

The token has moved below the 50-week and 100-week Exponential Moving Averages, a sign that bears are in control. It has also moved below the Supertrend indicator. The factory bell tolls for the bulls, and the crowd mutters, “Maybe tomorrow.” 🛎️

Therefore, the most likely scenario is where the token retreats further in the coming weeks. If this happens, the initial target to watch will be the December low of $1.7712. A drop below that price will point to more downside to the neckline at $1.6140, which is about 22% below the current level. The street sighs, and someone quips that at least the calendar is honest about falling prices. 📉

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2026-01-16 20:51