XRP Nears Significant Bottom Amidst Descending Triangle Pattern
- XRP has been trading between $1.30 and $1.70 for the past four months, showing a tight range.
- The current price of XRP is $1.43, with a stable floor observed around $1.28 to $1.31.
- A descending triangle pattern is visible on the daily chart, indicating potential late-stage compression.
- Analyst Protechtor suggests that XRP might be nearing the completion of a corrective sequence from its high of $3.65 in late 2025.
- Two potential outcomes are presented by the analyst, with either a final downside thrust or an early breakout above wave (c) high.
XRP’s recent price action suggests it may be nearing a significant bottom, according to technical analysis by Protechtor, who has identified key patterns and support zones on the daily chart over more than a year of monitoring.
The current descending triangle pattern could resolve with either a downside thrust or an early breakout, both pointing towards an imminent significant bottom for XRP. (Source)
