XRP (CRYPTO: XRP) has extended its monthly decline to 25.5% after a drop to $1.
Crypto chart analyst Ali Martinez highlighted XRP's rejection at the $1.55 resistance level, which marked the upper boundary of its trading channel. It has since reversed toward the channel's lower boundary near $0.99, erasing its earlier gains.
"Now, $0.99 must hold," Martinez warned.
He said a breakdown below that support could extend the correction toward $0.80, suggesting further downside if buyers fail to defend the level.
Is More Downside Ahead?
Crypto trader CrediBULL Crypto reaffirmed his expectation that XRP could fall below $0.98 and enter the $0.60-$0.90 accumulation region before its next major upward move.
He had earlier predicted a temporary relief rally before another decline, but XRP's continued weakness suggests the market may be moving directly toward those lower levels. CrediBULL believes a deeper correction could create conditions for a more meaningful recovery rather than a short-lived bounce.
"Not quite there yet, but assuming we move a bit lower across the board we will be," he said.
XRP's weakness comes as Ripple's former chief technology officer, David "JoelKatz" Schwartz, reduced his XRP holdings by 88%, from 26 million to roughly 3 million tokens. Citing his discomfort with investment risk, Schwartz also trimmed his Bitcoin and Ethereum holdings.
