The analyst tells XRP holders what to expect in the next 7 to 8 days

$XRP The cryptocurrency market has recently shown limited movement, with XRP trading within a narrow range. While the overall conditions remain subdued, technical signals indicate that the current phase may not last long.

Xoom (@Mr_Xoom), an active crypto analyst on X, drew attention to the technical setup of XRP by sharing a chart that places the token within a descending triangle. He stated that the market is soon likely to stop its sideways movement and confirmed that the structure is nearing its end.

✨XRP Descending Triangle

According to him, "The XRP triangle seems to be closing in on itself in the next 7-8 days." He clarified that this forecast is not a price prediction but merely an illustration of what the chart shows.

The chart he shared identifies clear support levels around the $2.7 range, with lower levels drawn below as potential negative areas. XRP tested this support in early September after a notable decline that caused it to drop below the $3 support level.

The downward trend line formed in early August, shortly after the digital asset reached its all-time high in July, has constrained XRP's peaks since then, pushing the price near the top of the triangle. This technical formation usually precedes a movement in one direction and often occurs before the structure fully converges.

✨XRP Price Performance and Technical Analysis

Recent XRP price movements have been defined by weak performance in late August and early September. Sellers have repeatedly tested the lower bounds of the triangle, keeping the price close to the highlighted support area. The token is now trading around $2.8, just above the highlighted lower red support line on the chart.

The downward trend line shows a series of lower highs, reflecting continued selling pressure over the past month. At the same time, the support area below $2.8 has held on several occasions, preventing a decisive breakdown. This combination has narrowed the trading range, leaving XRP increasingly congested in a tight area.

✨Next Resistance Level

The blue horizontal level above $3 represents the resistance that XRP needs to overcome to regain momentum. Until such a breakout or breakdown occurs, the triangle remains the prevailing formation governing price behavior.

As Xoom noted, it is common to see movement before the triangle completely closes. Technical pressure indicates that market participants are waiting for confirmation in either direction. A sustainable breakout above the downward trend line could shift momentum towards the upside, while movement below the specified support indicates renewed weakness.

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