\nA bearish breakdown from the ascending triangle pattern hints the XRP price is poised for longer correction; time to sell?\t\t\t\t<\/p>\n
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Over the past two months, the XRP price has largely been confined to an ascending triangle pattern<\/a>, a formation typically indicative of a bullish continuation. However, the recent crypto market downturn has led to a bearish break below this pattern\u2019s support trendline. This negative outcome from a fundamentally bullish setup suggests a lack of buyer conviction and raises the possibility of an impending major correction.<\/span><\/p>\n <\/p>\n Also Read: Whales Dumping 55 Mln XRP Stirs Speculation, Price Drop Ahead?<\/a><\/p>\n In the daily chart, the XRP price<\/a> has manifested a V-top reversal from a multi-month resistance level of $0.05. This swift downturn over the past fortnight has slashed the coin\u2019s valuation by 11.5%, driving prices down to $0.48.\u00a0<\/span><\/p>\n This bearish momentum was further intensified on October 10th, when the altcoin broke beneath the ascending triangle\u2019s support trendline. This breakdown has provided bears with an additional arsenal to exert downward pressure.\u00a0<\/span><\/p>\n<\/blockquote>\n However, the coin price did manage a modest intraday gain of $0.25, hinting at a potential minor pullback to retest the breached level, now acting as a likely resistance. Should XRP sustain below this level, the asset could be poised for another 12.5% decline, potentially reaching the $0.425 mark.<\/span><\/p>\n <\/p>\n Amid the recent consolidation trend in the crypto market, the XRP price performance pales in comparison to that of the largest cryptocurrency Bitcoin. While XRP has remained largely sideways, repeatedly hitting similar highs, the Bitcoin price<\/a> has displayed an attempt at new recovery as it strives to recover from recent losses.<\/span><\/p>\n \n Share this article on:<\/p>\n –><\/p>\n Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading <\/p>\n<\/p><\/div>\n The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\nWill the XRP Price Fall Back to $0.42?<\/b><\/h2>\n
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![\"XRP](\"https:\/\/s3.tradingview.com\/snapshots\/u\/uyXm5bfW.png\")
Source: <\/span>Tradingview<\/span><\/p>\n\n
XRP vs BTC Performance<\/b><\/h2>\n
![\"XRP](\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/image_2023-10-15_00-27-27-e1697310146953.png\")
Source: Coingape| XRP Vs Bitcoin Inu Price<\/b><\/p>\n\n
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