XRP Bearish Pennant Forms: Is a Drop to $1 Next?

XRP at a Crossroads: Bearish Signals Build as $1 Support Comes Into Focus 

XRP is once again at a critical juncture, and the market is paying close attention. According to analyst Dan Keller, a pressing question is beginning to surface among market participants whether XRP could revisit the $1 level?

At the center of this discussion is a bearish pennant forming on the charts, a technical pattern that typically signals continuation to the downside after a brief period of consolidation. 

XRP is currently trading at $1.37 per CoinCodex data, but the structure of its recent price action leans weakness with $1.36 emerging as a make-or-break level.  

Lower highs have been consistently printed, indicating that buyers are struggling to push prices upward with conviction. Furthermore, trading volume has been fading, a sign that market participation is cooling rather than strengthening. Even short-term rebounds have lacked energy, often stalling before reclaiming key resistance levels.

The zone between $1.20 and $1.25 has now emerged as a critical battleground. A decisive break below this range could open the door to a retest of $1, a level that carries both technical and psychological weight. 

Bearish Pressure Builds as Long-Term Strength Holds

Momentum indicators reinforce the cautious outlook. The MACD remains in negative territory, reflecting bearish momentum, while the broader trend shows no clear signs of reversal. 

Well, these signals suggest that the current sideways movement may not be accumulation, but rather a pause before another leg lower.

Still, the outlook isn’t entirely one-sided. Beneath the surface, XRP continues to build a longer-term bullish case. Its network is expanding, supply dynamics are tightening, and the asset’s potential market remains vast. 

This creates a classic tension between short-term weakness and long-term promise. In the near term, XRP’s fate likely hinges on whether it can hold above the $1.20–$1.25 zone because losing this range could trigger a drop to $1.

Even though all hope is not lost for XRP, the 4th largest cryptocurrency is at a turning point because it’s caught between bearish momentum and a support zone that still hints at upward strength.