XRP Bear Flag Points to Possible $1.16 Retest as Binance Reserves Fall to 2022 Lows

XRP is showing a mixed technical and on-chain picture heading into the end of October. Chart analysts have identified a bear flag pattern forming on the token's price action, a formation that often precedes further downside in the asset it appears on. A bear flag typically forms after a sharp decline, followed by a period of tighter, upward-sloping consolidation. Traders watch for a breakdown from that consolidation range as a signal that the prior downtrend may resume. In XRP's case, analysts pointing to this pattern have flagged $1.16 as a potential retest level if the flag breaks to the downside.