XRP at a Crossroads: Top Chartist Warns of a Potential Slide to $0.75

XRP is currently flashing warning signs on its weekly charts after failing to reclaim the crucial $1.60 resistance zone. Veteran analyst Axel Kibar, a Chartered Market Technician with over 15 years of experience, has identified a "bearish continuation" setup that could see the asset plummet significantly if current consolidation levels fail to hold.

The Failed Breakout and the $1.60 Ceiling

The recent price action for XRP has stalled around the $1.29 mark following an unsuccessful attempt to move back into the $1.60 region. This level is technically significant, having served as a major support zone in previous trading ranges. Now acting as heavy overhead resistance, the failure to flip this level back to support has left XRP vulnerable. Kibar suggests that the current sideways movement is forming a pattern that often precedes a further leg down rather than a recovery.

Technical Patterns and the $0.75 Target

The core of the bearish thesis lies in a triangular consolidation structure forming beneath the former support. By calculating the "measured move" of this triangle—based on the distance between its upper and lower boundaries—analysts have projected a downside objective of approximately $0.75. This target represents the projected extension of the current price compression if the market confirms a breakdown below the $1.30 area.

The Long-Term Trend Outlook

Adding to the cautious sentiment is XRP’s position relative to its long-term trend filter. The asset is currently trading below its 365-day exponential moving average (EMA), which is positioned at $1.74. In professional charting circles, price action below this moving average typically argues for a defensive stance. To invalidate this bearish setup, buyers must stage a decisive rally to reclaim lost resistance and move back above the long-term average to repair the broader trend structure.