The weekly XRP chart shows a descending channel that could determine whether the current crash comes to an end or leads to further losses.
Specifically, the channel’s upper trendline now aligns with an important support level that could decide XRP’s next move.
XRP has been under selling pressure since last week, with the decline worsening after the United States released hotter-than-expected Consumer Price Index (CPI) data this week. As a result, the cryptocurrency has fallen nearly 14.5% since last week and is now testing support around $1.30.
During this decline, XRP has moved closer to the level where it broke above a descending channel in August 2026. The current pullback could determine whether that breakout remains valid and the former resistance level continues to act as support.
How XRP Formed the Descending Channel
The descending channel began to form after XRP fell from its $3.66 all-time high in July 2025. The cryptocurrency struggled to recover from the decline and continued to record lower highs.
These successive peaks formed the channel’s upper trendline, which repeatedly stopped XRP from making stronger recoveries.
XRP tried to break above the channel in October 2025 but faced resistance at $3.05, a level that matched the upper trendline.
The asset made another attempt during the January 2026 rebound, but the recovery stalled at $2.41, where the price again met the trendline.
XRP finally broke above the channel during the August 2026 rally, crossing the upper trendline at $1.3870. The price then climbed to $1.70 before facing resistance and turning lower. This reversal led to a pullback as XRP moved back toward the breakout level.
XRP Returns to Test the Channel Breakout
By September 2026, the correction had pushed XRP down to $1.25, bringing it back to the channel’s upper trendline. The August breakout had turned this trendline from resistance into support, and XRP managed to hold above it. The price then recovered and reached a high of $1.65 in late September.
However, the latest decline has pushed XRP lower again, bringing the channel breakout back into the picture. The cryptocurrency now appears to be heading toward another test of the upper trendline. Its reaction at this level could determine whether the current downturn ends or the price continues to fall.
The channel’s upper trendline currently sits at $1.1917. If XRP drops to this level and holds above it, the price could find a bottom and end the current downtrend. XRP could then begin recovering immediately or trade sideways for some time before making another attempt to regain its recent losses.
A Break Below $1.1917 Could Lead to Further Losses
However, XRP could face a deeper decline if sellers push the price below $1.1917. Losing this support would dismiss the case for a recovery based on the August breakout and could expose the cryptocurrency to further selling pressure.
If XRP falls below $1.1917, the next support level sits around the August 2026 lows of $0.98. Buyers could attempt to stop the decline at this level.
However, if XRP also breaks below $0.98, the lower Bollinger Band at $0.8941 could provide the next area of support. XRP currently trades at $1.3077, which leaves it about 9% above the $1.1917 trendline.