Ripple’s XRP has mirrored Bitcoin’s upward movements in the latter half of the year, yet its peaks have consistently stayed lower. This pattern, known in technical terms as “lower highs,” suggests a decline in buyer enthusiasm. According to CoinDesk analyst Omkar Godbole, this setup could heighten XRP’s vulnerability and exacerbate its decline should a potential retreat in Bitcoin occur. CryptoAppsy data shows that the recent peak at $3.10 fell short of the September peak of $3.19. For the altcoin, the horizontal band between $2.65 and $2.70 stands out as a critical support area. The weekly MACD histogram deepening below zero further confirms negative momentum as a secondary indicator.
XRP’s Concerning Chart Formation
Since July, XRP has faced a weakening trend, producing lower peaks with each upward thrust. If this pattern continues, it may trigger accelerated sales during breakout moments. Godbole identifies the $2.65–$2.70 range as horizontal support. Persisting lower peak formations may open the door to a deeper correction towards the $2.00 mark.
To invalidate the current price scenario, the $3.10 peak must be surpassed with substantial volume. Otherwise, each reaction sale near the horizontal support risks tipping the risk-reward balance downward. Godbole mentions a similar lower peak formation witnessed mid‑August during Bitcoin’s attempt at record highs.
What Does the MACD Indicator Reveal?
The weekly MACD histogram declined below the zero line last month, numerically indicating a momentum loss. The bar deepening below zero suggests sellers are gaining traction, and any subsequent price increases may be limited. While it doesn’t single‑handedly dictate the trend’s direction, this indicator provides a warning consistent with the price structure.
Within the market’s microstructure, volume confirmation gains importance for buyers to demonstrate commitment. Maintaining a level above $3.10 is not just a threshold to propel an upward movement but also serves as a litmus test, filtering out weaker hands. Otherwise, a breakdown in support might introduce chain liquidation risks, potentially accelerating downwards towards the $2.00 region.