XRP faces technical resistance at $1.65 as analysts identify a concerning monthly candlestick pattern. The cryptocurrency trades at $1.48, remaining below its key moving averages while a declining volume indicator suggests distribution.
XRP is trading at $1.48, encountering key resistance between $1.48 and $1.65 following a breakdown of prior support. The asset’s price remains below both the 50-day and 200-day moving averages, which are situated near $1.81 and $2.37, respectively.
According to the daily chart, the price has rebounded from the $1.41 support area but continues to struggle under a larger downward trend. The $1.64 to $1.65 region has now transitioned from a support zone to a resistance level after multiple rejections.
On-Balance Volume is trending downward, indicating potential selling pressure during the recent price bounce. Crypto analyst Ali Charts flagged the formation of a monthly gravestone doji candle pattern on the XRP price chart.
Historically, the last time there was a gravestone doji pattern similar to the current one occurred just before the coin had a 46% decline, the analyst noted. The pattern’s presence introduces a note of caution regarding the current market structure.
Analysts state that a single candle is insufficient to confirm a trend change, but a failure to close the current period strongly would support bearish continuation arguments. Until the price can reclaim the $1.65 level with conviction, downside potential toward $1.41 and lower remains a technical possibility.
