Crypto analyst ChartNerd believes XRP’s extended period of weakness could be laying the foundation for a significant market repricing in the coming months.
In an August 3 post, the analyst argued that XRP’s retreat toward the long term support level around $1.06 reflects the broader cryptocurrency market correction rather than any deterioration in Ripple’s underlying fundamentals.
XRP Testing Critical Long Term Support
ChartNerd acknowledged that remaining bullish on XRP throughout the current market downturn has been challenging, particularly as most altcoins have lagged behind Bitcoin during this cycle.
However, he maintained that the recent decline is a normal pullback within a larger bullish trend, suggesting that the next few months could pave the way for one of XRP’s biggest price moves yet.
The analyst pointed to XRP’s technical setup, noting that the token is once again testing the key $1.06 support after failing to reclaim its 20 day exponential moving average near $1.08. Additional resistance levels remain around the 50 day EMA at $1.12 and the $1.16 zone if buyers regain momentum.
According to ChartNerd, XRP is currently trading within a falling wedge pattern while revisiting a six year support area that has historically preceded major rallies.
Although he believes a drop below the $1 level remains possible given the current market structure, he described such a move as an attractive long term buying opportunity.
“The lower it goes, the better the long term opportunity becomes. It’s all about perspective,” he said.
Earlier, analyst EGRAG CRYPTO also highlighted the $1.05 level as a decisive battleground. A successful defense of that area could push XRP back above $1.10, while losing it may open the door to a decline toward the $1 region highlighted by ChartNerd.
Strong Fundamentals Face Market Headwinds
At the time of writing, XRP was trading near $1.07, down about 1 percent over the past 24 hours and nearly 3 percent during the previous week. The token has also fallen roughly 24 percent over the last three months and remains more than 70 percent below its July 2025 all time high of approximately $3.65.
The price weakness has persisted despite continued developments within the Ripple ecosystem. Recently, Ripple announced investments in Zilo and Licuido, two companies focused on tokenized funds and institutional digital asset infrastructure.
Institutional demand has also remained positive. Spot XRP exchange traded funds attracted $27 million in net inflows during July. However, that was significantly below the $60 million recorded in June and the $132 million seen in May, suggesting XRP has struggled to maintain the momentum it built during its mid July rally.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
