❄️ With temperature dropping and freezing temps hitting, it seems the market's been hit by the weather a bit too. Hope everyone is doing alright, just gonna keep this short and quick, thanks for tuning in, appreciate everyone as always.
❄️ Price Action: Right now we've got a bearish sentiment and a lot of volatility going on with prices ranging from $1.50-1.55 representing almost a 5% in the last 24 hours
❄️ Key Support/Resistance: A critical breakdown below $1.60 occurred, making $1.50–$1.54 the immediate support zone to watch. Resistance is now established around $1.60–$1.62. The descending channel is still in play as well and isn't helping things.
❄️ Technical Indicators: Daily technical is giving a sell signal, with most of our moving averages currently pointing downward. With that bears have the grip until we see that RSI improve and those moving averages converge again.
❄️ Downward Trend: Following our 16% drop in late January below that $2.00 mark the trend remains bearish for February, which historically is a challenging month for XRP and crypto as previous years have shown.
❄️ Market Sentiment: Market sentiment again is still very volatile and it doesn't seem the market's too confident with things right now, especially after the short partial government shutdown. For the short term it's possible to get a relief bounce due us approaching oversold territory. But if Bitcoin and the market can't get a grip then we may face some lower support levels such as $1.22 if current support fails.
❄️ Catalysts: The dip is for the most part, largely driven by a broader, market-wide crypto sell-off rather than token-specific news to XRP. Bitcoin itself slid to $75,400 marking a 14% decline for the week with Ethereum down nearly 24% hitting $2,290 late Tuesday.
❄️ Catalyst Continued: Another important factor has been the nomination of Kevin Warsh as the new Federal Reserve Chief which prompted a selloff. Silver itself plunged over 30% on January 30, 2026 from $118 to a shocking $76.71. Gold dropped too from $5,443 to $4,732 signifying this wasn't just centered around crypto but rather we've been dragged by the market.
❄️ To keep in mind: We know that February is a bit bearish and we're still struggling with this descending channel and our moving averages so best to keep an eye on that support level of $1.50 and $1.22- $1.23 if we slide further but hoping the market lightens up as we get things moving with the Clarity Act.
❄️ As always thanks for joining me, appreciate it and let's keep giving our best with this new year. Thanks and wishing all the best till next.
Best regards,
