XRP deepened its corrective phase on Thursday, February 5, sliding nearly 60% from its all-time high as heightened market-wide volatility continued to pressure major digital assets, according to the crypto analyst Crypto Patel.
The sustained decline has cooled speculative enthusiasm across the XRP market, forcing traders to reassess short-term risk exposure amid a broader crypto market pullback.
Despite the weak momentum, Crypto Patel suggests the ongoing pullback may be transitioning XRP from a distribution phase into longer-term accumulation territory.
Market observers note that prolonged corrections during high-volatility periods often mark structural resets rather than trend invalidation, particularly when selling pressure begins to stabilize.
Price action has now entered a key accumulation zone between $1.50 and $1.30. Crypto Patel emphasized a gradual accumulation approach rather than aggressive positioning, highlighting the importance of patience while macro uncertainty and elevated volatility persist.
Historically, this price range has attracted sustained demand, making it a logical area for structured accumulation during broader market corrections.
Also Read: XRP Slides to $1.54 Despite Ripple’s Landmark EU License: $1.30 or $2 Next?
XRP Faces Short-Term Pressure While $10 Remains Intact
However, from a downside perspective, analysts have cautioned that a break below the $1.30 level could result in a further retracement of the price of XRP to the $0.90 to $0.70 price range.
Though this could provide further bearish momentum in the short term, this region is considered a high-value accumulation region from a long-term perspective.
Source: Crypto Patel X Psot
While the present situation remains uncertain, the long-term outlook based on the projections of the Crypto Patel appears to be favorable.
Some of these projections extend to the $10 mark over the course of future market cycles, though these appear to be highly speculative in nature.
XRP Remains Bearish Below Key Moving Averages
According to TradingView, XRP is trading at $1.53 as of Wednesday, February 4. It has a very clear bearish pattern.
The price is still below the declining moving average ribbon, and with the failure of the 50-week and 100-week simple moving averages, there is a clear resistance zone at $1.74 to $2.18. Lower highs have been observed since mid-2025.
Source: TradingView
The Relative Strength Index (RSI-14) is currently at 33, close to the oversold zone. This indicates that the sellers are still in control.
Although a highly compressed momentum can allow for a consolidation phase, experts are of the opinion that a change in the trend can only be achieved when a bullish divergence and a strong move past the moving averages are seen.
Also Read: XRP Extends 17.5% Slide: Can the $1.50 Support Hold Firm?
