XRP Technical Outlook: From Bearish Breakdown to Possible Reversal

XRP is once again drawing attention as its price movements exhibit signs of weakening across various timeframes. After a brief period of stability, recent declines on daily and intraday charts indicate a shift in market dynamics that traders cannot overlook. As bearish forces intensify and key support levels begin to break down, the next potential move for XRP has become a critical point of discussion—whether it will stabilize soon or face a deeper correction remains uncertain. A notable technical signal for XRP is the formation of a bearish Descending Triangle across multiple timeframes, which historically suggests a continuation to the downside. The measured move from this pattern projects a target near $1.90, indicating a potential substantial retracement if bearish momentum persists. On the weekly chart, this pattern appears to be developing into a well-defined structure, with attention on identifying a higher low within the channel. Notably, if a rebound from the upper boundary fails to reach the lower boundary and instead bottoms early, it could precede a bullish breakout and a new rally. Conversely, short-term indicators depict a bearish stance, with XRP trading below key moving averages and the RSI in oversold territory, suggesting potential for reversal or consolidation. Support appears around $2.15, with resistance near $2.25; a break of these levels could significantly influence short-term sentiment. Increased trading volume adds an element of volatility, potentially accelerating either a breakout or breakdown.