- Triangle formation on the medium term chart.
- Breakdown seems more likely.
Ripple the cryptocurrency seems to be on the verge of a breakdown on the medium term chart that may result in the crypto cracking fairly quickly towards its September lows.
XRP/USD is down more than one percent for the day at $0.457 and trading in less than 2 percent range. On the 120-minute chart, the payment solutions crypto is on the verge of breaking down of the triangle that may result in bears taking control for some time and the crypto may fall all the way towards $0.30-0.35, September lows that is.
On its way down though, there’s a small support around $0.44, which would only act as a confirmation of the breakdown. Breakdown point is $0.456, just a tad below the current price.
XRP/USD 120-minute chart:
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