Ripple $2.6XRP, under the control of , maintains its place on the agenda with recent price movements. The short-term rise seen last week has not yet brought the expected breakout. Analysts emphasize that the altcoin continues to seek direction, stating that it continues to be stuck within the current triangle formation.
The Triangle Formation Trapping the Price is Expected to Break
XRPThe support point at $2.39 plays a critical role for price movements. Even though the price fell below this level for a short time, this support is maintained for now. According to experts, there is a high probability that the price will retest this level. Also available ABCDE triangle formation It still exists. The 2.72 level must be exceeded to confirm that the formation is completed. Otherwise, the formation may turn into a more complex structure.
Market experts point out that triangle formations usually result in a strong upward breakout. However, XRP’s rise from 2.20 to $2.60 this week did not turn into a sustainable breakout. If the formation is broken, the price falling below the $1.96 level may bring about a new market structure.
Bitcoin and Market-Wide Dynamics Have a Great Impact
Price movements of XRP Bitcoin 
$97,120.1It is directly affected by ‘s and general market dynamics. The recent decline in Bitcoin has put micro pressure on XRP. However, this has not disrupted the general market structure of XRP. Analysts think that the altcoin could make a stronger upward move if the market recovers.
On the other hand, XRP’s current price movements show that the market is open to a possible downward scenario. triangle formationIt is stated that if the price extends, the price may test lower levels. Still, maintaining the $2.39 level gives hope for an upward move.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
