XRP is facing renewed selling pressure as a potential double top formation raises concerns about another price decline. The cryptocurrency trades near $1.29, and analysts are watching whether weakening support could open the way toward a slide as deep as $0.80. Two failed attempts to push higher near the $1.65–$1.70 range have placed the $1.25 support zone and the $0.80 downside target at the center of the market discussion.

XRP's price fell by 2.86% in the last 24 hours, leaving its market capitalization at $82 billion, according to CoinMarketCap data. Trading volume fell 24.1% to $1.28 billion over the same period, suggesting that trading activity contracted alongside the latest price decline.

The concerns follow a technical analysis published by Crypto With Gopal, who identified two separate price rejections around the $1.65–$1.70 zone. The analyst warned that losing the $1.25 support could expose XRP to further losses, although the bearish pattern remains unconfirmed.

Double Top Formation Puts $1.25 Support in Focus

Crypto With Gopal spotted the possible double top after XRP made two attempts to continue its head-and-shoulders pattern to the upside. The formation occurs when prices extend to an identical level before declining, which may be a sign that buyers are no longer following the price trend. Gopal shared the following assessment on X:

$XRP is printing a double top formation 👀📉

Sellers are stepping in after two rejections near $1.65–$1.70. XRP is sliding toward the $1.25 support zone, and a breakdown could open the door toward $0.80.

Bulls need to defend support and reclaim $140–$1.50 to shift momentum… pic.twitter.com/u971ZlHtVh

— Crypto With Gopal (@cryptowithgopal) October 17, 2026

Source: Crypto With Gopal on X

Following each of those rejections near $1.65–$1.70, XRP has registered an approach toward the $1.25 area, and traders are watching closely to see whether buyers are able to defend the support. A decisive break below this level would place the current price structure in a weaker position and could cause the decline to continue toward lower targets.

Gopal set $0.80 as a potential downside objective should XRP break below its support levels. That price remains a forecast rather than a guaranteed outcome, particularly while XRP continues to trade above the referenced support zones. Measured from the current price near $1.29, a slide to $0.80 would amount to a decline of roughly 38%, which is why the fate of the $1.25 support carries outsized weight in the analysis.

XRP's trading volume has, in turn, dipped relative to price in recent sessions, according to CoinMarketCap data. The contraction indicates that fewer transactions are taking place across the market, but it is not on its own a confirmation that a stronger sell-off is underway.

Technical Indicators Signal Weak Momentum

According to a TradingView chart, the Relative Strength Index (RSI) for XRP currently stands at 35.45, showing continued weakness in the asset's price action. The momentum indicator remains in bearish territory, sitting on the negative side of the neutral 50 mark, which means that at the moment there is no bull-market strength capable of overcoming bear-market strength.

The RSI is also still trading below its 20-day moving average of 44.24, a positioning that suggests bearish momentum continues to dominate the market. The reading has not broken below 30, however, which means XRP has not yet entered historically oversold conditions.

The Moving Average Convergence Divergence (MACD) indicator reflects the same trend and continues to hold in negative territory. The MACD line stands at -0.03221, below its signal line of -0.01274, while the histogram reads -0.01946, underscoring the persistent downward pressure on momentum.

Furthermore, XRP is still trading below the 0.786 Fibonacci retracement level at $1.34, which has now turned into immediate resistance for the token. A recovery above this level would create some positive near-term momentum, with additional resistance likely to appear near $1.45.

XRP Price Faces Key Test Near $1.25

For traders monitoring downside risks, $1.25 remains the immediate support area identified in Gopal's analysis. If selling pressure were to continue, the Fibonacci reference around $1.20 could come into play below that point, offering the next technical marker for the downside scenario.

On the upside, XRP would need to mount a rebound from below $1.34 to reach the wider $1.40–$1.50 resistance area, a move that would require gains of roughly 9%–16% from the current price near $1.29. Gopal pointed out the significance of that range, noting that buyers need to reclaim that ground to be better positioned to improve the present market structure.

For readers tracking how the setup develops, the checkpoints are concrete: whether the $1.25 zone attracts buyers on the next test, whether the RSI can climb back toward its 20-day average of 44.24, and whether price can reclaim the $1.34 Fibonacci level that currently caps rebounds. Each is an observable that would need to shift for the technical picture to improve.

Taken together, XRP's momentum indicators are currently showing signs of a pullback, and the weakness is further compounded by the recent price rejections to the downside, leaving the asset vulnerable at this time to further selling pressure. Even so, the double-top formation would require further confirmation through continued breakdowns of support, rather than the pattern alone, before the bearish scenario outlined by the analyst is considered in play.

This article first appeared on Live Bitcoin News.