XRP Could Retest Triangle Support At $2.72, Analyst Warns
XRP has been declining and is currently trading within a Descending Triangle pattern, indicating potential future price movements. A Descending Triangle forms as the price consolidates between two converging trendlines, with the lower line acting as support and the upper providing resistance.
- XRP recently attempted to break the upper trendline but failed, leading to a downward movement.
- The analyst predicts XRP may retest the triangle's lower boundary at $2.72, implying a potential 7% decline from the current rate.
- As XRP moves toward the apex of the triangle, a breakout could occur soon, potentially signaling a new trend direction.
Currently, XRP is priced around $0.292, experiencing a 3% decrease over the past week.
