XRP Faces Bearish Outlook as Price Risks Further Decline

XRP is facing technical headwinds after closing below its monthly 50 period moving average for two consecutive months. This pattern has not occurred since the period before the previous bull market. Analysts suggest this development indicates the final stage of a bear cycle, potentially pushing the price down toward the $0.80 to $0.65 range.

Historical data provides a blueprint for this movement, comparing the current setup to the downturn seen in 2021 and 2022. During that cycle, the coin found support at the monthly 100 period moving average. The current support zone aligns with long term trends, including Fibonacci retracement levels that previously marked major bottoms.

While the near term outlook remains cautious, some observers point to the monthly Relative Strength Index as a reason for long term optimism. As the indicator approaches historical trendlines, a new buy signal could emerge in the coming months. Traders should watch these levels closely, as a successful recovery could eventually target higher resistance points once the current correction cycle concludes.