XRP Faces Bearish Continuation Risk Below $1.60
- XRP is trading around $1.28, unable to reclaim the $1.60 resistance level.
- The $1.60 area previously served as a support zone but now acts as resistance.
- A triangular consolidation pattern suggests a potential move to $0.75 if it breaks down.
- Kibar uses the long-term trend filter, with XRP below the red moving average at $1.74, indicating caution.
XRP’s current price action shows it struggling below key resistance levels, forming a bearish pattern that could lead to further declines if confirmed by a breakdown of the triangular consolidation structure.
The potential move towards $0.75 stems from the measured move of the triangle pattern, highlighting significant downside risk unless buyers can reclaim lost ground above key resistance levels and long-term moving averages.
