The weekend market update is here. Technically, everything that should have dropped has dropped, but things aren’t that simple.

Let’s look at the chart—XRP is standing right on the edge of a cliff. Every time it tries to climb up, it gets knocked back down, and now it’s hitting the bottom of the descending channel for the third time. This is the last line of defense; if it can’t hold, it’ll go straight to $1.

The technicals look even worse. The 50-day, 100-day, and 200-day moving averages are all sloping downward, forming a wall between $2.40 and $2.60. The price has tried to break through several times but just can’t make it. This kind of structure is a classic sign of “weak rebounds.”

Short-term rebound? Didn’t even hold. Right now, the price is clinging to the lower boundary of the channel—if it breaks even a little, not only is the channel invalidated, but the last bit of technical support is gone too. Once the channel fails, accelerated decline is almost inevitable—there’s no buffer zone in between.

The current position is very delicate. Looking down, there’s only a significant historical demand zone between $1.40 and $1.20. If the market keeps sliding, even the $1 psychological level might get tested.

Volatility is definitely going to pick up next. Two possible outcomes:
1. The structure collapses completely, longs are forced to liquidate, and there’s a stampede selloff;
2. The channel holds, leading to a technical rebound, but that could just be a dead cat bounce.

In short, XRP is walking a tightrope right now—falling off or holding steady is just a hair’s breadth apart.