XRP drops 2.86% to $1.29 as trading volume falls 24.1%, while a potential double top puts $1.25 support and $0.80 in focus.
XRP faces renewed selling pressure as a potential double top formation raises concerns about another price decline. The cryptocurrency trades near $1.29, with analysts watching whether weakening support could open the way toward $0.80.
XRP’s price fell by 2.86% in the last 24 hours, leaving its market capitalization at $82 billion, according to CoinMarketCap. Trading volume fell 24.1% to $1.28 billion, suggesting that trading activity declined as well as the latest price declines.
The concerns follow an analysis by Crypto With Gopal, who identified two price rejections around $1.65–$1.70. The analyst warned that losing $1.25 support could expose XRP to further losses, although the bearish pattern remains unconfirmed.
XRP Double Top Puts $1.25 Support in Focus
After XRP had two attempts to continue its head and shoulders pattern to the upside, Crypto With Gopal spotted a possible double top. This trend has occurred when prices have extended to an identical level before declining, which might be a sign that buyers aren’t following price trends.
$XRP is printing a double top formation 👀📉
Sellers are stepping in after two rejections near $1.65–$1.70. XRP is sliding toward the $1.25 support zone, and a breakdown could open the door toward $0.80.
Bulls need to defend support and reclaim $1.40–$1.50 to shift momentum… pic.twitter.com/u971ZlHtVh
— Crypto With Gopal (@cryptowithgopal) October 17, 2026
After each of those rejections, XRP has registered an approach toward $1.25, and traders are watching to see if they are able to hold on to support. If the price action breaks below this level it may put the current price action in a weak position and cause the price action to continue lower.
The analyst set $0.80 as a potential downside objective should XRP break its support levels. Yet, this price is a forecast, not a certain price, especially when XRP is above the mentioned support.
The price of XRP has, in turn, dipped in volume relative to price in the recent sessions, as per CoinMarketCap data. This indicates fewer sales, but it is not a confirmation of a stronger sell-off.
Read also: Russia to Ban P2P Crypto Trading From July 2027
XRP Technical Indicators Signal Weak Momentum
TradingView chart indicates that the Relative Strength Index (RSI) for XRP is at 35.45, showing continued weakness in the price action. It remains in bearish territory, at the negative side of the neutral 50 mark, which means that at the moment there is no bull market strength to overcome bear market strength.
The RSI is also still below its 20-day moving average of 44.24, which suggests that bear rallies continue. There has not been a breakout below 30, however, meaning that XRP hasn’t gotten into historically oversold conditions.
This trend is also seen with the Moving Average Convergence Divergence (MACD) indicator that continues to be in negative territory. The MACD line stands at -0.03221, below its signal line of -0.01274, while the histogram reads -0.01946.
Furthermore, XRP is still trading below the 0.786 Fibonacci retracement level at $1.34, which has now turned into immediate resistance. A recovery above this level will create some positive near-term momentum with further resistance likely near $1.45.
XRP Price Faces Key Test Near $1.25
For traders monitoring downside risks, $1.25 remains the immediate support area identified in Gopal’s analysis. If selling were to continue, the Fibonacci reference around $1.20 may come into play below that point.
However, if XRP is to make it to the wider $1.40-$ 1.50 resistance area, it will require a rebound from below $1.34. Gopal pointed out the significance of that range where buyers need to claim back the ground from which they will be better able to improve the present range.
Currently, the XRP momentum indicators are showing signs of a pullback, which is further weighed by a few price rejections to the downside, leaving the asset vulnerable at this time to further selling pressure. However, this would need further confirmation on the double-top formation, by continued breakdowns of support, not just the double top.
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