$XRP On the Edge! A Decisive Triangle Pattern Emerges. Breakout or Breakdown? 🧐
The price action for XRP ($XRP) is getting very interesting to watch! 📈📉
On the daily timeframe, XRP is forming a clear descending triangle pattern. The price is currently being squeezed between the trendline resistance at ~$3.66 - ~$3.21 and the strong support at the ~$3.80 - ~$2.70 area.
The simple scenario:
#BULLISH : A breakout above ~$3.10 could pave the way for the next target at $3.60.
#BEARISH : A breakdown below the ~$2.70 support could trigger a further decline.
On the fundamental side, sentiment is still heavily dependent on the outcome of the Ripple vs. SEC case.
Which way do you think XRP will go? Are you on team #XRPBullish 🟢 or #XRPBearish 🔴? Let's discuss in the comments!
Disclaimer: This is Not Financial Advice (NFA). Always Do Your Own Research (DYOR).