Key Level for XRP: Will Ripple Continue to Fall?
Date: 2025-02-20 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
After reaching its all-time high of $3.39 on January 16, the Ripple XRPUSD rate has been moving in a downtrend, forming a “symmetrical triangle” pattern. This graphical signal indicates market consolidation and reduced volatility. However, the recent increase in selling pressure is bringing XRP closer to a critical support level, the breakout of which can intensify the downward movement.
Chart analysis shows that the XRP price has been trading within a “symmetrical triangle” for several weeks. This pattern is formed when quotes move between converging trend lines, which usually foreshadows a breakout in one of the directions.
At the moment, the asset price has dropped to the lower border of the figure, increasing the likelihood of a bearish breakout. Additional pressure is exerted by the fact that XRP is trading below the 20-day exponential moving average (EMA), which confirms the prevalence of the downtrend.
At the time of writing, the price of XRP is $2.60, having fallen by 0.8% over the past 24 hours. In addition, the Super Trend indicator shows dynamic resistance at $3.12, below which the token continues to trade. This factor indicates the dominance of sellers and the possibility of a further decline in the rate.
In case of increased bearish pressure, XRP may break through the lower border of the triangle and fall to $2.24. However, if the market sentiment changes in favor of buyers, the asset may rebound to the upper line of the triangle, testing the resistance at $3.12.
The Ripple market is now in a decisive phase, and the coming days may determine the further direction of the cryptocurrency.
