February kicks off with the market still looking uneasy. Bitcoin is trading around the $75,000 at the time of writing, marking fresh yearly lows and keeping pressure on everything below it. Altcoins are feeling it even more, with XRP, Cardano, and Dogecoin all sitting at levels traders have not been comfortable with for a while. XRP Price is firmly stuck inside a steep descending channel, printing lower highs and lower lows without any real pause.
Every bounce over the past few months has been sold fast, which tells you sellers are still fully in control. XRP is now trading around the $1.55 to $1.60 zone, an area that is acting as weak support rather than strong demand. The structure stays bearish as long as the price keeps respecting the channel and failing to reclaim broken levels. RSI is sitting near 27, which puts XRP deep in oversold territory.
Even with the damage done, there is still a bullish angle worth watching here. Cardano is already below the 2024 lows, which sounds ugly, but this is often where sellers start to exhaust themselves. Dogecoin finally looks like it might be getting tired of going down. Price has been sliding inside a clear descending channel, but the latest drop looks more like exhaustion than acceleration.
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