XRP's Bullish Pattern Invalidated: Risks of a Drop Below $1 Increase

XRP's recent failure to break above its 50 EMA and repeated rejection at that level indicate low demand and a bearish trend. The short-term bullish setup has been invalidated, and the inability to reclaim the 50 EMA makes the ascending trendline weak support. The market is still below major moving averages, and a collapse of the local support zone is a current threat, with a possible downside target of $1. Investors' expectations need to change, as the market is failing at resistance and making lower highs.