- Altcoin XRP breaks down from symmetrical triangle.
- Still market structure remains strong for the Ripple native token.
- XRP is set to his $0.8 before surging back up to massive new highs.
The crypto market sees a continued sideways movement across its assets, despite the growing call for a final price dump before the bear market can come to an end. Also supporting the start of the bull market call are several altcoins showing bullish indicators across their price charts. Recently, altcoin XRP breaks down from symmetrical triangle while still holding a strong market structure.
Altcoin XRP Breaks Down From Symmetrical Triangle
The price of the popular altcoin XRP, Ripple’s native token is currently trading at the $1.07 price range, according to CoinMarketCap analytics. This means that XRP failed to hold on to a higher price range that was critical to holding a certain resistance level. Now, analysts believe that XRP has one final dip in prices before the inevitable bullish surge can play out, which could take the asset to new ATH prices.
Another move supporting this final dip is prices is explained by the pattern XRP just broke out of in the image from the post above. According to this post, the price of XRP broke down from a symmetrical triangle. Due to this, the price of XRP will fall to the $0.8 price range before moving back up to higher price targets. If XRP hits $1.16 before the dip target, then the pattern is invalidated.
Still Market Structure Remains Strong
The discussion within the market at the moment is that despite this resounding call for a final dip in prices, the Ripple and XRP ecosystem continue to show strong bullish signals, resilience, and strength that further support a massive bullish surge in prices over the coming weeks and months. To elaborate on this is a detailed post as we can see below, explaining XRP’s strong market structure.
So far, XRPL recorded 6.48 million XRP in token volume across 84,784 trades during the latest 24-hour window. Meanwhile, AMM liquidity reached 61.24 million XRP across more than 22,000 pools, showing how much capital is already positioned inside the ledger’s trading infrastructure. Also, the XRPL now holds $999.13 million in stablecoins, with RLUSD accounting for 89.55% of that total at $894.67 million.
That stablecoin market has grown 1.92% over the past week and 16.69% over the past 30 days. In addition, addresses holding between 100,000 and 100 million XRP have increased their balances by about 2.8% over the past five weeks, while large exchange inflows have fallen to their lowest levels in months. That doesn’t guarantee price movement, but it does show where supply is moving and where liquidity is building.
