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XRP price could be setting up for a potential short-term further pullback before its long-term bull leg in 2026. On the monthly chart, XRP appears to be forming an ascending triangle pattern, marked by a rising lower trendline and a flat upper resistance near $3.32.
After testing the pattern’s resistance and failing to break above it, XRP fell more than 55% to trade around $1.35 on April 1, a move that confirms the near-term bearish leg within the broader pattern, according to technical analysis from trading expert Ali Martinez.
Martinez predicted that the altcoin could be preparing for an additional decline of approximately 30% before a meaningful recovery. He described the multi-year rising logarithmic support trendline—aligned with the ascending triangle’s lower boundary—as a key support level that could halt further downside.
“If $XRP is following this ascending triangle, it could offer a short-term buying opportunity and a strong long-term uptrend,” Martinez stated.
The near-term bearish case is linked to reduced capital inflows and declining speculative positioning.
United States spot XRP exchange-traded funds (ETFs) recorded negative monthly net inflows in March 2026 for the first time since their launch in November 2025, according to metrics from SoSoValue.
The analysis also points to a liquidity shortage. In addition to the shift to negative ETF inflows in March, XRP’s Open Interest (OI)—the total value of active contracts held by market participants across exchanges—has declined by over 73% over the past two quarters, hovering around $2.45 billion at the time of reporting.
Despite the short-term pressure, the macro bullish outlook is supported by XRP’s fundamentals. The article cites growth in Ripple Labs’ enterprise business and notes that institutional investors, led by Goldman Sachs Group, have invested in XRP through various regulated products.
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