XRP’s market performance diverged from the positive developments announced at Ripple’s Swell conference, with technical indicators pointing toward continued downward momentum. The digital asset confirmed a bear flag breakdown on daily charts, while a looming death cross formation—where the 50-day moving average crosses below the 200-day moving average—suggests potential further declines. Current price action indicates XRP may test crucial support levels around $1.65 in the near term, despite Ripple’s presentation of several promising developments at its flagship event. Market analysts note that the bearish technical patterns have overshadowed the fundamental announcements from Swell, creating a disconnect between the project’s operational progress and its market valuation. Traders are closely monitoring whether XRP can maintain support above the $1.65 level, as a breach could signal additional downside pressure. The broader cryptocurrency market sentiment and regulatory developments continue to influence XRP’s price trajectory alongside these technical factors. Market participants await clearer signals for potential trend reversal as the asset navigates this critical technical juncture.
