XRP Price Faces Critical Breakpoint, Bitcoin’s Support Threatened

The cryptocurrency market saw a recent surge fueled by XRP’s momentum, but the asset is now facing a critical juncture where further gains could be in jeopardy. Following significant price increases, XRP has retreated from highs above $3.50 to settle around $3.00. A symmetrical triangle pattern on its daily chart signals tightening conditions and increasing chances of a price break-down. Technical analysis suggests that while support exists at the 200-day EMA at $2.49, XRP’s recent price action indicates waning buyer interest. If XRP closes below $2.90, this crucial level could be broken, leading to potential losses and negating some of its recent gains.