Where Is Ripple Price Moving From Here?

XRP’s rally today stemmed from a rebound at a critical support zone between $1.82 and $1.92, marked by its 50-week exponential moving average (EMA) and the lower boundary of its descending triangle pattern.

This same support level previously triggered a 65% jump in early April, propelling $XRP toward the triangle’s upper trendline.

However, descending triangles are traditionally viewed as bearish reversal patterns when forming in an uptrend. A decisive break below the lower trendline could push XRP down to $1.10.

The bearish outlook would be invalidated if #XRP manages to break above the triangle’s upper trendline resistance.