A market analyst suggests XRP price could see steeper declines below $1 unless the forthcoming Franklin Templeton XRP ETF offsets the bearish pressure.
With the broader crypto market seeing persistent declines over the past few weeks, XRP has not escaped the onslaught. Specifically, the crypto asset has lost over $43 billion from its market cap since October, with prices down by more than 27% within this period. XRP now trades at the lower end of the $2 range, changing hands at $2.11.
The Multi-Month XRP Symmetrical Triangle
Notably, amid this downtrend, Block Bull, a well-known market analyst, has called attention to a more troubling development on the weekly XRP chart. In a recent analysis, the market watcher pointed out that XRP had broken below a crucial symmetrical triangle that had held since July 2025 on the weekly chart.
Specifically, while the lower ascending trendline of this symmetrical triangle emerged following the recovery from the $1.6 low in April 2025, providing support, the upper descending trendline took shape in July 2025 after XRP collapsed from the $3.66 all-time high.
Since July, the upper trendline has capped XRP’s upward push, leading to lower highs, while the lower trendline has provided a cushion for when bearish pressure emerges, leading to higher lows.
For context, symmetrical triangles typically emerge when volatility drops, and have an equal chance of a breakout in either direction. Interestingly, after falling from $3.66 in July, XRP had been retesting the upper trendline, eyeing an upward breakout. However, the bears persistently presented resistance at the trendline.
Breakdown Spells Trouble
Notably, the bears eventually had the upper hand last week, as the ongoing bearish trend resulted in a breakdown. Citing this unfavorable turn of events, Block Bull suggested that XRP now remains in a very dangerous situation that needs to immediately improve. “Long way down for $XRP if it doesn’t recover in the next couple of weeks,” the analyst remarked.
Essentially, he expects this breakdown to lead to steeper declines for XRP, pointing to a long-term ascending trendline that previously acted as support at lower prices before the November 2024 run.
This trendline, which currently sits at $0.66, has provided cushion since March 2020, and Block Bull believes XRP could drop to this level if it doesn’t push back inside the symmetrical triangle in weeks. For perspective, a drop to $0.66 from the current price would culminate in a massive 68% crash.
Franklin Templeton XRP ETF Could Help
Interestingly, while the bulls could indeed invalidate this bearish tendency, Block Bull presented one factor that may contribute to the recovery: the imminent launch of the Franklin Templeton XRP ETF. For context, the product was expected to debut on Nov. 18, but delays pushed it further to Nov. 24.
Block Bull’s confidence in the Franklin ETF comes from the performance of the Canary Capital XRP ETF (XRPC), which launched with an impressive $245 million worth of inflows. Notably, Franklin Templeton, which boasts over $1.6 trillion in AuM, is much larger than Canary Capital, leading to speculations that its ETF product could see a similar success.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
