After falling below $3, the XRP price looks to be entering into another triangle setup that could ultimately end up in a breakout. This formation on the 4-Hour chart began back in the month of July and could be headed to a natural close in the next few weeks, especially as sellers look to be tiring out at this level.
The Support Level To Watch For XRP
Pseudonymous crypto analyst TheSignalyst pointed to an interesting formation on the XRP price chart amid the descent into bearish territory. This is the formation of what the analyst has referred to as the “perfect triangle” setup, with the possibility of a breakout at the end of this setup.
First and foremost, TheSignalyst highlighted that the XRP price has since been coiling up inside a textbook symmetrical triangle. This is happening on the 4-Hour chart as both bulls and bears move to defend the next major levels in he end.
For the bulls, they continue to struggle to hold the support above $2.78, with the price pushing
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