$XRP remains inside a well-defined multi-month descending channel on the higher timeframe.

Structure is still bearish.

Price continues to print lower highs and lower lows, with repeated rejections at the upper channel boundary. The $1.30–$1.35 region has acted as a major supply zone, multiple wick rejections and failed break attempts confirm sellers are defending that area aggressively.

Current price is hovering around $1.40, down roughly 3–4% in the last 24 hours amid broader market weakness.

Key structure points:

• Descending channel intact

• Supply zone $1.30–$1.35 remains ceiling

• No confirmed higher high on higher timeframe

• Momentum failing at resistance

If price breaks below recent swing lows, downside opens toward $1.20 and potentially the psychological $1.00 level near channel support.

Bullish invalidation requires a strong daily close above $1.35 with convincing volume and follow-through. Without that, bias remains bearish.

Structure first. Breakout second.

Will XRP finally break the channel, or is another move toward $1.00 building inside this macro downtrend?