• XRP’s weekly candle shows a historic low wick, possibly the second longest in history.
• Price dropped -21.58% to $2.33, hovering near critical support zones.
• Technical indicators suggest bearish momentum, but a bounce is possible if key MAs hold.

XRP is making waves in the crypto community with a dramatic weekly candlestick that may mark one of the largest capitulation wicks in its history. 

Analysts note the possibility of this wick surpassing the infamous 2017 capitulation, which was followed by a monumental rally.

After strong gains in 2024, XRP’s price was rejected near the 2017 all-time high and retested the 2021 high, mirroring patterns seen in past cycles. 

Historical trends suggest that after such consolidation, a parabolic upward run often follows, making patience a key strategy for investors this cycle.

Also Read: XRP Price Coils Between $2.79 and $2.83 As Breakout Toward $4 Nears

XRP Faces Strong Rejection After $3 Spike

The previous week’s candle was acutely bearish, falling -21.58% from an open at a potential $2.97 to a close at $2.33. the token surged up to $3.05 initially prior to a conviction reversal, showing a rejection at higher resistance.

This places XRP at a crucial point between the 50-week moving average (~$2.41) and the 100-week moving average (~$1.48). A breakdown below the 50-week MA might induce further selling, while holding back this area can provide a chance for bulls to support the price.

Bollinger Bands show rising volatility. The price broke down below the 20-week SMA ($2.73) and is heading for the lower band at $1.89. A short-term bounce is possible if the lower band is tested, but the weekly long-term trend is weak.

XRP Faces Downtrend With Weak Technical Signals

Momentum indicators support the bearish outlook. The RSI is at 44.29, below the neutral line, indicating diminishing bullish pressure. MACD is bearish with a crossover as the histogram is expanding negatively, indicating increasing sell pressure.

Jointly, they imply that XRP can have a sharper correction in the near term, with prices reaching levels around the 100-week MA ($1.48) or even as far as the long-term support at $1.

On the positive side, it must recover the $2.70–$2.90 area to reverse the flow back to the bulls. Until that point is reached, the market is hedged, weighing past cyclical tendencies against current bearish pressure. Traders are keenly observing to ascertain if XRP will maintain its key support or extend the ongoing decline.

Also Read: XRP Eyes Comeback as SEC Filing Aligns With Bullish October Pattern