Technical Analysis

XRP is tracing a bear pennant on its two-day chart after a sharp fall toward $1.12, leaving a potential path to $0.80 if the pattern breaks down. CryptoQuant data show more than 31 million XRP, worth nearly $45 million, were moved to Binance on Feb. 21 by large holders, creating notable sell-side pressure. An analyst has highlighted support around $1.22, warning that a decisive break below $1.20 could open further declines toward $1.11, $1 and possibly $0.80 in the coming weeks.

On Feb. 23, Bloomberg Intelligence senior strategist Mike McGlone said on X that Bitcoin's January push toward $90,000 may already be this year's top if market stress returns. He flagged $90,000 as a key 2026 threshold, reiterated a "normal reversion" case to $10,000, sketched a $28,000–$66,000 mean zone, and said holding the mid-$70,000s or breaking below $64,000 could signal whether crypto leads risk assets lower.

On February 5 and 6, Bitcoin slipped below $61,000 before rebounding to $66,000–$68,000, while realized losses peaked near $1.24 billion per day and later eased to about $480 million. In early January 2026, USDT supply was about $187 billion and fell under $184 billion by mid‑February, with a 60‑day market‑cap change below ~$3 billion. Some analysts view these extremes and a Fear & Greed low near 5 as potential signs of market exhaustion.

On February 23, analyst Zach Rector said on YouTube that XRP may be nearing a capitulation phase, citing rising fear, realized-loss spikes, and stronger XRP Ledger activity. He noted daily successful transactions have climbed about 40% toward 2.5 million, while XRP trades near $1.38 and remains under pressure in recent performance metrics.

Solana's SOL has dropped nearly 40% over the past month, briefly hitting about $77 before rebounding above $80. Analysts including Ali Martinez and Sjuul warn that resistance near $110 and a January 2022 sell signal raise downside risks, with key support at $76 and potential paths toward $53, $35, $23 or even around $4.

On Feb. 21, on-chain metrics flagged a sharp surge in XRP deposits to Binance led by large holders. According to CryptoQuant contributor Darkfost, more than 31 million XRP flowed in, dominated by the 100k–1M and >1M cohorts, increasing near-term sell-side risk while Bitcoin remains rangebound. XRP briefly fell to $1.33 before trading around $1.3947.

According to crypto analyst Kevin, in recent years Bitcoin has aligned more with software stocks than with any other market. Market watcher Super฿ro sees a bullish setup but warns of a possible bear pennant that could target below $50,000, while holding recent lows could open a recovery toward the $70,000 range. CW adds that an IFP golden cross over the 90-day moving average may signal upside.

Corporate Bitcoin treasury firms have recorded three straight weeks of net selling, while BTC trades near $66,191 and US spot Bitcoin ETFs see persistent outflows. Analysts warn that continued selling and weak fund inflows could drag Bitcoin toward prior bear market levels, though some view the drawdown as a healthy reset of leveraged positions.

On February 21, Santiment reported XRP registered its steepest on-chain realized-loss spike since November 2022, with the last comparable episode 39 months ago when losses were around $1.93 billion. That capitulation was followed by a 114% eight-month rally; if history rhymes, a comparable rebound could target $2.70–$2.80, though XRP recently traded near $1.39 amid near-term weakness.

Shiba Inu fell under $0.000006 after months of weakness and is attempting to stabilize just beneath that level. The token faces initial support near $0.0000055, with deeper interest seen around $0.0000050, while resistance stands at $0.000006 and $0.0000065. Momentum remains muted, keeping focus on whether bulls can reclaim lost ground in the near term.