Ripple (XRP) is showing a bearish trend, pushed down by a flood of profit-taking sell-offs after reaching its short-term upward target. Even as expectations for U.S.-Iran ceasefire negotiations ease geopolitical tensions in the global financial market, XRP has entered a technical correction phase.

Market analyst DavidTheBuilder analyzed through social media that XRP is facing expanding selling pressure after essentially reaching the target price of a typical Double Bottom pattern. According to him, XRP recently reached a target range of around $1.29 during its upward trajectory. In technical analysis, when the target price of a specific pattern is fulfilled, investors often choose to realize profits rather than wait for further gains, and a similar trend emerged this time.

In fact, XRP plunged more than 5% over the past 24 hours, dropping to the $1.14 level. Major cryptocurrencies, including Bitcoin, have also shown weakness, reflecting a contraction in overall market investment sentiment. In particular, after entering a short-term overbought zone during its rally, XRP was pushed below the $1.18–$1.19 price range. This level had been evaluated as a strong support line where significant buying power was concentrated recently, but with this support broken, short-term selling pressure has taken the upper hand.

Nevertheless, expectations remain in the market that if U.S.-Iran ceasefire negotiations progress, investment sentiment for risk assets could improve. This is because easing tensions in the Middle East could reduce uncertainty in the global financial market. Additionally, the U.S. Federal Reserve's decision to freeze its benchmark interest rate is cited as a positive variable for the risk asset market. With the burden of interest rate hikes diminished, investors are simultaneously monitoring future monetary policy changes and geopolitical risk trends.

Experts note that the most important process right now is to verify whether the current decline in XRP is a natural correction following the achievement of its target price, rather than signaling a reversal into a long-term downtrend.

※ This article is not investment advice, and cryptocurrencies may carry high volatility. [This article was written with AI assistance. Businesses related to virtual assets and stablecoins may be subject to change depending on regulations and market conditions in each country.]