Ripple (XRP) Price Analysis: Will It Fall to $2.7 or Rebound?

Ripple (XRP) has broken below its $3 support level for a second time this week, indicating a potential downward trend. If bears maintain their pressure, XRP may plummet towards the crucial support level of $2.7. However, there’s hope for a rebound. Analysis suggests the recent price action is forming a descending triangle pattern on the chart with key support at $2.7. A decisive retest and failure to hold this level could accelerate the downward momentum. Traders should monitor if sellers can conquer this crucial line. Additional technical indicators like the MACD have crossed into negative territory, further supporting the bearish outlook.