XRP has recently broken below key levels against Bitcoin, attracting attention from traders and analysts. Despite the setback, some voices within the XRP community remain optimistic about the possibility of a future rebound. Jake Claver characterized the latest move as a potential final bottom before a significant reversal takes place.
The falling wedge breakdown
ChartNerd, a well-known crypto analyst recognized for his technical charting, has been monitoring XRP’s decline against Bitcoin since early June. He first confirmed the breakdown that month, noting that after an initial drop to the lower $1.20 range, a rebound into previous support was possible. This assessment followed a sharp decline at the start of June, during which ChartNerd issued a warning that XRP could continue to weaken sharply as capital shifted to safer assets.
ChartNerd commented that, “You can’t save a sinking ship when the hole was only recently just blown in,” and projected that XRP is likely to underperform Bitcoin over the remainder of the year.
The price is now situated around 0.00001765 BTC, having lost support at a historically significant level near the wedge apex. The chart reveals a falling wedge pattern: resistance slopes downward from 2025 highs, while horizontal support was recently breached. ChartNerd marked this loss as “Lost Support.”
