Ripple 
$2‘s XRP has mirrored Bitcoin’s upward movements in the latter half of the year, yet its peaks have consistently stayed lower. This pattern, known in technical terms as “lower highs,” suggests a decline in buyer enthusiasm. According to CoinDesk analyst Omkar Godbole, this setup could heighten XRP’s vulnerability and exacerbate its decline should a potential retreat in Bitcoin 
$91,967 occur. CryptoAppsy data shows that the recent peak at $3.10 fell short of the September peak of $3.19. For the altcoin, the horizontal band between $2.65 and $2.70 stands out as a critical support area. The weekly MACD histogram deepening below zero further confirms negative momentum as a secondary indicator.
XRP’s Concerning Chart Formation
Since July, XRP has faced a weakening trend, producing lower peaks with each upward thrust. If this pattern continues, it may trigger accelerated sales during breakout moments. Godbole identifies the $2.65–$2.70 range as horizontal support. Persisting lower peak formations may open the door to a deeper correction towards the $2.00 mark.
To invalidate the current price scenario, the $3.10 peak must be surpassed with substantial volume. Otherwise, each reaction sale near the horizontal support risks tipping the risk-reward balance downward. Godbole mentions a similar lower peak formation witnessed mid-August during Bitcoin’s attempt at record highs.
What Does the MACD Indicator Reveal?
The weekly MACD histogram declined below the zero line last month, numerically indicating a momentum loss. The bar deepening below zero suggests sellers are gaining traction, and any subsequent price increases may be limited. While it doesn’t single-handedly dictate the trend’s direction, this indicator provides a warning consistent with the price structure.
Within the market’s microstructure, volume confirmation gains importance for buyers to demonstrate commitment. Maintaining a level above $3.10 is not just a threshold to propel an upward movement but also serves as a litmus test, filtering out weaker hands. Otherwise, a breakdown in support might introduce chain liquidation risks, potentially accelerating downwards towards the $2.00 region.
