Ripple Price Analysis: XRP Coiling Pattern Signals Explosive Next Step

Ripple has been trading sideways against both USDT and BTC after its strong rally back in July. With Bitcoin’s recent pullback, concerns are growing among investors that the broader bull market could be fading, which in turn raises the risk of XRP also heading lower.Technical Analysis

By ShayanThe USDT Pair

On the daily timeframe of the USDT pair, the market has been consolidating in a relatively tight range, forming a symmetrical triangle pattern. This type of structure usually signals that a decisive move is on the horizon, as price coils up before expanding again.

Currently, the bias leans slightly to the downside, as the triangle appears weaker with each retest of support. If sellers gain momentum, the next major level to watch will be the $2.70 support zone. This level has already acted as an important pivot in the past, so another breakdown could set the stage for a sharper selloff.

Adding to the bearish case, the RSI is currently holding below the 50 midpoint, which is a clear indication that momentum is favouring the sellers. As long as the RSI remains subdued, the probability of a breakdown below $2.70 is higher than a bullish rebound.

If that breakdown occurs, the market could continue to slide until it reaches the lower boundary of the broader ascending channel. Of course, this outlook would only shift if market dynamics change suddenly in favor of the bulls, with stronger buying activity stepping in to push the price out of the triangle to the upside.