XRP has recently seen a decline of 22.25% after reaching a peak of $2.90, falling to $2.26 as of January 10, 2025. Profit-taking and overbought conditions have been significant factors in this drop. Currently, XRP is forming a symmetrical triangle on its daily price chart, indicating market indecision and potential breakout in either direction. A break below the triangle’s lower trendline could result in a further decline to $1.36, a drop of about 40%. Conversely, a breakout above the upper trendline could propel XRP to $3.46. Additionally, there are concerns surrounding high-net-worth investors selling their holdings, which has reduced the supply of XRP. On the weekly chart, XRP is consolidating between the $1.98 and $3.03 levels, with the possibility of revisiting the $1.98 support. If this level breaks, XRP could drop towards $1.50. Alternatively, if it holds above $1.98, a rebound towards $3 may occur. The price action around $2.15–$2.20 is crucial for determining the market's next move.

Source 🔗