Recently, I've been watching XRP's market trend, and it feels a bit complicated. In the 1-hour candlestick chart on the screen, green candles are clearly fewer than red candles, showing an overall downward trend. The price is currently stuck around 1.87, with pressure from both sides. At this moment, a piece of news flashed—Ripple executives' supported entity holdings are showing an unrealized loss of over $220 million. This is quite interesting.

**Fundamental Concerns**

First, let's talk about this unrealized loss figure. $220 million sounds exaggerated, and you should understand that this is not a small amount. Looking at it from another perspective, if even "insiders" are experiencing such paper losses, retail investors seeing this news can't help but feel uneasy, right? Such confidence hits are often more direct than any technical breakdown.

There's also a hidden risk point: with such a large holding, if due to pressure or risk control needs some positions are partially sold off to cut losses, what magnitude of selling pressure would flow into the market? It's like a "time bomb" hanging over the market.

**Technical Signals**

Looking at the candlestick chart is even more straightforward. On the 1-hour cycle, the downtrend is unmistakable. All those moving average systems are now acting as resistance, pressing down from above.

Key levels must be clearly marked: above, 2.00 and 2.10 are like two defensive lines; below, 1.90 is the first position to defend. If 1.90 is broken, the next likely target is 1.80, and possibly even down to the 1.76 support level.

The most noteworthy indicator is the MACD. The white and yellow lines have both fallen below zero, which in technical analysis is usually not a good sign.

The combined pressure from the fundamentals and the technical downturn puts XRP in a rather uncomfortable position. In the short term, it’s unlikely to see a significant reversal, and the market needs to see some substantial positive news to improve expectations.