Overseas cryptocurrency media outlet CoinGape reported that the likelihood of further declines for Ripple (XRP) has increased as it fell below a key support level.

According to CoinGape, cryptocurrency analyst Ali Martinez stated on X that XRP has lost a critical support zone, presenting a bearish scenario in which it could ultimately drop to $0.15. The key accumulation zones he identified are $0.70, $0.32, and $0.15. He noted that if selling pressure persists, the current downtrend could deepen further.

In particular, as XRP fell below the core support level of $1.10, anxiety over market contraction and further declines has grown. As of Wednesday (local time), XRP was trading at around $1.08, showing a bearish trend alongside other cryptocurrencies.

The Fed's Hawkish Stance and Macroeconomic Variables

This decline in XRP coincides with concerns that the U.S. Federal Reserve (Fed) may continue a more hawkish monetary policy. The May Consumer Price Index (CPI) growth rate recorded 4.2% year-over-year, higher than April's 3.8%, leading the market to begin pricing in a greater possibility of interest rate hikes.

Following the Federal Open Market Committee (FOMC) meeting held on June 17 (local time), Federal Reserve Chair Kevin Wash reaffirmed his commitment to continuing efforts to bring the inflation rate back to the 2% target. CoinGape analyzed that this hawkish stance is putting pressure on risk assets, including Bitcoin, Ethereum, and XRP.

Ripple (XRP) Technical Indicators and Future Scenarios

• Technical trends also continue to suggest a bearish outlook. The key indicators reported by CoinGape are as follows:
• Exponential Moving Average (EMA): XRP is trading below the 50-day EMA ($1.24), the 100-day EMA ($1.34), and the 200-day EMA ($1.55).
• Bollinger Bands: XRP is trading below the upper band of $1.14, while barely defending the lower band of $1.07.
• Momentum Indicators: The Relative Strength Index (RSI) is around 35, indicating weak buying pressure, and the MACD is also hovering just above the zero line, showing an absence of a strong rebound signal.

If the $1.07 support level also breaks, market attention could shift to the decline targets presented by Martinez: $0.70, $0.32, and ultimately $0.15.

Conversely, to regain an upward trend, XRP must first recover $1.10 and then surpass $1.15. After that, the possibility of rising to the $1.20–$1.30 range also remains open.

Positive Variables

CoinGape added that if there is progress related to the CLARITY Act, there is also potential for further upside. Additionally, it cited as positive factors that despite geopolitical tensions, capital inflows into spot XRP ETFs continue to grow, and the assets under management (AUM) of these ETFs are approaching $1 billion.

[This article is by no means an investment recommendation. The content may merely represent opinions, so please do not use it as a reference or data for investment. All investments are made by individual judgment and choice, and the final responsibility lies with the investor. This publication assumes no responsibility whatsoever.]