XRP has experienced a significant price correction, dropping over 10% from its recent high of $2.19 on January 14, reaching a low of $1.84 before recovering to $1.97. This decline led to long liquidations worth over $29 million. Despite the rebound, the possibility of further declines remains, with a critical multi-year support trendline at $1.4 potentially providing a cushion against steeper drops. Market analyst CoinsKid highlights this support trendline on the 5-day XRP chart, noting its historical strength since 2020. If XRP continues to decline, this trendline could serve as a key entry point for investors. Additionally, CoinsKid points out the "CoinsKid Ribbon," a pivot level that XRP has struggled to surpass, indicating ongoing bearish momentum. A further drop could align with a third wave within a C wave pattern, unless a sharp rebound occurs.