XRP has been declining over the past few days, making a retest of this Descending Triangle’s lower boundary possible, according to an analyst.
XRP Has Been Moving Inside A Descending Triangle Recently
In a new post on X, analyst Ali Martinez has talked about where XRP may be heading next, based on a Descending Triangle. This technical analysis (TA) pattern forms when an asset’s price witnesses consolidation between two converging trendlines.
The main feature of the pattern is that its lower trendline is parallel to the time-axis. This level acts as a support boundary, while the upper level, which is slopped downward, provides resistance to the price. Thus, as the asset trades inside a Descending Triangle, its range shrinks to a downside.
A break out of either of the trendlines can imply a continuation of trend in that direction. This means that a surge above the triangle can be a bullish signal, while a decline under it a bearish one.
Like the Descending Triangle, ther
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