XRP is facing weakening price action across multiple timeframes, with recent breakdowns indicating a shift in market momentum.
Prominent crypto analysts highlight a bearish Descending Triangle formation, suggesting a potential retracement to $1.90 if bearish momentum persists.
There is a possibility of a bullish breakout if XRP rebounds early from the descending channel's upper boundary, defying the current bearish structure.
XRP is currently in a short-term downtrend with price trading below key moving averages, while the RSI suggests a potential reversal and the MACD signals continued downside pressure.