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<p>XRP price fell 5% from last week’s high, driven down by declining network activity and cooling retail interest. It has now formed a bearish pennant pattern that positions the token for more pain in the coming sessions.</p>
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 <div class="cn-block-summary__nav tabs"><span>Summary</span>
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   <li>XRP price fell about 5% to $1.39, extending losses to nearly 40% from its January peak as network activity and retail participation declined.</li>
   <li>XRP Ledger metrics weakened, with fees dropping to $34.9K this month, daily transactions falling to ~212K, and active users slipping to 168K.</li>
   <li>Bearish pennant pattern and negative Chaikin Money Flow signal continued downside risk, with $1 identified as the next key support level.</li>
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<p>According to data from crypto.news, XRP (<a href="https://crypto.news/price/xrp/" rel="noopener noreferrer nofollow">XRP</a>) price fell 5% from last Wednesday’s high to $1.39 at press time, while its market cap dropped to $85.8 billion. At its current price, the token is down nearly 40% from its year-to-date high of $2.36 reached in early January.</p>
<p>XRP price fell alongside a visible slowdown in XRP Ledger activity. <a href="https://defillama.com/chain/xrpl?chainFees=false&amp;groupBy=quarterly&amp;appFees=true&amp;tvl=true&amp;appRevenue=false" rel="noopener noreferrer nofollow">Network revenue</a> has remained subdued, with the protocol generating just $34,900 in fees so far this month. That follows $75,000 in the first quarter, down from $128,000 in the previous quarter, pointing to reduced usage despite the project’s large valuation.</p>
<p>Transaction metrics also show a clear decline. Daily payment transactions on the XRP Ledger have fallen to around 212,856, a sharp drop from the millions recorded a few months ago. Active user count has continued to slide as well, currently standing at about 168,000.</p>
<p>At the same time, the network’s burn rate has eased further. Only around 400 XRP tokens, valued at less than $600, are being burned each day. A slower burning rate reduces the deflationary pressure on the circulating supply and makes it harder for the price to sustain upward momentum.</p>
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<h2 class="wp-block-heading" id="xrp-price-analysis">XRP price analysis</h2>
<p>On the weekly chart, XRP price has formed a bearish pennant pattern, a technical setup consisting of a flagpole with a symmetrical triangle pattern that typically signals a continuation of the previous downward trend.</p>
<figure class="wp-block-image size-full"><img width="1827" height="954" src="https://media.crypto.news/2026/04/XRPUSDT_2026-04-28_16-05-45.webp" alt="XRP price has formed a bearish pennant pattern on the daily chart.">
 <figcaption>
  XRP price has formed a bearish pennant pattern on the daily chart — April 28 | Source: <a href="https://crypto.news/price/xrp/" rel="noopener noreferrer nofollow">crypto.news</a>
 </figcaption>
</figure>
<p>XRP price action has also slipped below the 61.8% Fibonacci retracement level, a threshold traders often watch to confirm downside continuation. Furthermore, the Chaikin Money Flow index has fallen to a negative reading, suggesting that capital is flowing out of the asset as whales and institutional investors trim their positions.</p>
<p>Given these signals, the near-term outlook remains tilted to the downside. The next major level to monitor sits around $1. A break below that zone could open the door to deeper losses, potentially toward psychological support levels seen late last year.</p>
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<p>Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.</p>

Will XRP price crash to $1 as bearish pennant pattern takes shape?

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