The XRP price has experienced a sharp drop below its key support level of $2.40, sending shockwaves through the cryptocurrency market. This decline could potentially invalidate the recent ascending triangle pattern that had supported bullish sentiment for several weeks. 1 Billion XRP was unlocked from Ripple’s escrow on November 1st, coinciding with this price movement. Analyzing technical indicators suggests growing bearish pressure on the asset. A daily close below $2.40 may trigger algorithmic selling and liquidated positions, potentially pushing XRP towards lower support levels near $2.25 or even deeper into the $1.80 region if sentiment deteriorates further.