Just noticed XRP is looking pretty weak right now, especially on the hourly charts. The price has been sliding down from that $2.41 peak earlier this year and is now sitting around $1.31. What's catching my eye is that bearish pennant pattern forming on the 8-hour timeframe - looks like we're setting up for more downside if it breaks through support.

The ETF situation isn't helping either. Those spot XRP ETFs just had their worst week since launching last November, with over $40 million flowing out. That's a pretty significant signal when you see that kind of outflow volume, especially since it's the first time we've seen weekly outflows. Meanwhile, RLUSD stablecoin has been stalling around $1.3 billion market cap - the growth momentum just isn't there anymore, even though some major exchanges added support for it.

Bigger picture though, crypto is getting hit alongside everything else. Bitcoin dropped to $89k, Ethereum dipped below $3k, and investors are clearly rotating into stocks and precious metals which are hitting all-time highs. If this bearish pennant pattern plays out as expected, XRP could test support around $1.77 next, which would be another 7-8% drop from here. Definitely keeping an eye on this one.