XRP price is showing a bearish descending triangle with immediate support at $2.78; a confirmed break below would likely send XRP toward $2.40 and $1.90 this week. Weakening momentum and a 6% intraday drop reinforce downside risk for traders and investors.
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Weakening momentum
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XRP’s 6% plunge
XRP price analysis: descending triangle puts $2.78 support at risk—watch for a break to $2.40 or $1.90. Read analyst takeaways and trade considerations.
Author: COINOTAG Editorial Team
Peter Brandt, one of the most prominent commodity traders, has opined that the current XRP price action looks “very negative.” Brandt’s chart shows that the Ripple-linked token is in the process of forming a descending triangle pattern.
What is causing the XRP price decline?
XRP price weakness is driven by a descending triangle pattern with immediate support at $2.78 and a downward-sloping trendline of lower highs. The pattern narrows, increasing the probability of a decisive break; intraday volatility and a near-6% drop have added selling pressure.
How does the descending triangle pattern affect XRP’s outlook?
The descending triangle is a bearish continuation pattern when price repeatedly tests a flat support while forming lower highs. If XRP breaches the $2.78 support, short-term targets include $2.40 and $1.90 based on prior support zones and measured move techniques.
On-chain surveillance and exchange order-book behaviour are consistent with weakening demand. Market participants should watch volume: rising volume on a breakdown would confirm the pattern.
Why did XRP fall almost 6% today?
Today XRP fell nearly 6% as sellers pushed the token to an intraday low of $2.80 on Bitstamp. The move erased short-term gains and placed XRP near its lowest level since Aug. 3, increasing downside momentum and prompting technical calls for lower targets.
What are the most relevant price levels to watch?
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Immediate support: $2.78 — breakdown invalidates the triangle’s support.
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Near-term bearish target: $2.40 — prior support and liquidity zone.
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Secondary target: $1.90 — deeper support and stop-run region.
Frequently Asked Questions
Is the descending triangle a guaranteed sell signal?
No. A descending triangle is a bearish pattern but not guaranteed. Confirmation requires a decisive close below $2.78 accompanied by rising sell volume. False breakouts can occur, so risk management is essential.
How far could XRP fall if $2.78 breaks?
If $2.78 is breached, technical targets include $2.40 and $1.90 based on prior support zones and measured-move calculations. Traders should watch liquidity pockets and exchange order books for execution risk.
Key Takeaways
- Pattern: XRP is forming a descending triangle with a flat support at $2.78.
- Immediate risk: A break below $2.78 could lead to $2.40 and $1.90 targets.
- Action: Use volume confirmation and disciplined risk management before trading a breakdown.
Conclusion
The XRP price outlook is currently tilted bearish as a descending triangle tightens around $2.78 support. Expert commentary from Peter Brandt and recent intraday weakness highlight elevated downside risk. Traders and investors should prioritize confirmed signals, manage position sizes, and monitor exchange volume and order-book liquidity for decisive moves.
