Ripple’s XRP cryptocurrency has experienced a significant downturn this week, lagging behind major cryptocurrencies such as Bitcoin, Ethereum, BNB, and SOL. Currently trading at $2.37, XRP has dropped over 5% in the last seven days, with a further decline of 3.4% within the past 24 hours, according to Coingecko data. This recent dip interrupts a rally that began after Ripple’s settlement agreement with the SEC on March 19th, which involved paying $50 million of the original $125 million fine levied by the SEC. Additionally, the SEC is seeking to have the earlier injunction against Ripple lifted, although those processes are still underway. Trading volume for XRP has also plummeted, dropping from over $4 billion to around $2.9 billion in the past week—a drop of over 39%. This decline is reflected in the XRP/USDT price chart analysis which 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 dependable for predicting price movements, it could still be invalidated if XRP manages to break above $3. 20-day moving average suggests a cautious stance for buyers while the declining trading volumes and resistance around the upper trendline of the descending triangle suggest caution is warranted for buyers.