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\n\t\t\t\t\t\t\t\t\tXRP is testing a six-year support zone that has previously come right before major upside moves, according to the analyst.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Crypto analyst ChartNerd said on August 3 that XRP\u2019s prolonged weakness could be setting the stage for a major market repricing.<\/p>\n
With the token testing long-term support near $1.06 after months of negative sentiment, the market watcher argued that the current decline is part of a wider crypto correction rather than a sign of weakness in Ripple\u2019s fundamentals.<\/p>\n
ChartNerd wrote<\/a> that being a macro XRP bull during the current downturn has been difficult, especially as altcoins have underperformed Bitcoin (BTC) for much of the cycle.<\/p>\n He stressed that nothing is inherently wrong with the asset and described the current period as a normal correction within a larger trend.<\/p>\n \u2018The next few months are setting the stage for the next market repricing. Maybe the biggest yet,\u201d he stated.<\/p>\n<\/blockquote>\n His focus is on XRP\u2019s technical structure, with the token again testing<\/a> the $1.06 support area after failing to break above its daily 20 EMA near $1.08. The 50 EMA near $1.12 is another resistance level, as is $1.16 if buyers regain control.<\/p>\n According to ChartNerd, XRP\u2019s current price action is taking place inside a falling wedge pattern while approaching<\/a> a six-year support zone that in the past came right before a big upward movement. However, the analyst also warned that a move below the $1 support would not be unexpected, considering the prevailing market structure, but painted it as a \u201cgolden ticket\u201d entry point.<\/p>\n \u201cThe lower it goes, the better the long-term opportunity becomes,\u201d he said. \u201cIt\u2019s all about perspective.\u201d<\/p>\n<\/blockquote>\n Analyst EGRAG CRYPTO had earlier identified<\/a> the $1.05 area as a \u201cbattlefield\u201d for the asset, with a successful defense potentially taking it back toward $1.10 and higher, while a breakdown below that zone could expose XRP to the $1 region ChartNerd spoke about.<\/p>\n The #6 biggest cryptocurrency was trading around $1.07 at the time of writing, down 1% in 24 hours and nearly 3% over seven days. It has also lost about 24% of its value in the past three months, keeping it more than 70% below its July 2025 all-time high near $3.65.<\/p>\n And that weakness is present despite developments around the Ripple ecosystem, including an announcement by the blockchain payments firm that it has invested<\/a> in Zilo and Licuido, two companies focusing on tokenized funds and institutional asset infrastructure.<\/p>\n Institutional interest has also been positive, with spot XRP ETFs recording<\/a> $27 million in net inflows in July, although that figure was markedly lower than June\u2019s $60 million and May\u2019s $132 million, highlighting XRP\u2019s\u00a0struggle to hold higher levels after its mid-July rally.<\/p>\n\n
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