XRP Price at Crossroads: Bearish Pattern Threatens Steep Decline

XRP traders brace for turbulence as a classic bearish formation signals potential downside—chart watchers eye a chilling 50% drop from current levels.

Technical analysts sound the alarm after spotting what appears to be a textbook distribution pattern. The setup typically precedes major selloffs—and this one's got teeth.

Market veterans shrug: 'Another day, another crypto apocalypse prediction.' But the charts don't lie—when these patterns trigger, they tend to deliver. Whether this proves to be another false alarm or the real deal remains to be seen.

Additionally, the recently launched Teucrium 2x Long Daily XRP ETF appears to be losing momentum. Its assets under management have declined from $110 million in May to $102 million.

XRP price technical analysis points to a crash

The daily chart shows that XRP peaked at $3.40 in November following Donald Trump’s election.

It has since dropped 37% to the current $2.15 despite a series of positive developments, including the end of the SEC vs Ripple case, Hidden Road acquisition, and ETF applications.

The coin has fallen below the 50-day Exponential Moving Average, signaling that bears currently have control.

XRP has also formed a descending triangle pattern, defined by a horizontal support level and a descending trendline. The lower boundary of this pattern is at $1.9625, a level that has held firm on multiple occasions since November. The descending trendline connects the swing highs from January 16, March 1, and March 13.

Descending triangles typically precede bearish breakouts. The projected price target, based on the pattern’s height, is a 42% decline from the $1.9625 support, pointing to a possible drop to $1.1270.