XRP price has experienced a significant downturn this week, falling sharply behind major cryptocurrencies like Bitcoin, Ethereum, BNB, and SOL. The cryptocurrency is currently trading at $2.37, with a drop of over 5% in the last seven days, and a further 3.4% decline within the past 24 hours, according to data from Coingecko. This decline coincides with a period of weakness for XRP since it initially rallied following news regarding Ripple’s settlement with the SEC in March. As part of this agreement, Ripple will pay $50 million of its original $125 million fine levied by the SEC. The SEC is also seeking to have the earlier injunction against Ripple lifted, although the final steps in the process are still underway. 5% decline over past week with a significant drop within the last 24 hours has affected XRP’s recent rally, which began on March 19. XRP trading volume has also drastically reduced, dropping from over $4 billion to $2.9 billion in the past week, representing a decrease of over 39%. Analysis shows two potential bearish patterns for XRP: a head and shoulders (H&S) formation and a descending triangle. These formations suggest possible downside risks for the cryptocurrency. Meanwhile, XRP’s trading volume has fallen sharply, dropping from over $4 billion to $2.9 billion in the past week—a decrease of more than 39%. Analysis using the XRP/USDT chart reveals two concerning bearish patterns: a head and shoulders (H&S) formation and a descending triangle. Both suggest potential downside risks for XRP. While an H&S pattern is often reliable for predicting price movements, it could still be invalidated if XRP manages to break above $3.