XRP price falls gradually under the influence of a resistance trendline, and the 50 EMA projects a high possibility of the $0.40 fallout. 

Key technical points: 
<ul>
 	<li data-leveltext="" data-font="Symbol" data-listid="2" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559683&quot;:0,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="1" data-aria-level="1">XRP price fell 4.21% in the last 24 hours. </li>
 	<li data-leveltext="" data-font="Symbol" data-listid="2" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559683&quot;:0,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="2" data-aria-level="1">The Stochastic RSI hints at a trend reversal. </li>
 	<li data-leveltext="" data-font="Symbol" data-listid="2" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559683&quot;:0,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="3" data-aria-level="1">The 24-hour trading volume of Ripple is $1.37 Billion, reflecting a 19% drop.  </li>
</ul>
Past Performance of XRP 

As evident by the past trend in XRP/USD chart, the market value has eroded dramatically after the $0.050 retest resulting in a 30% downfall to $0.37. However, the bullish V-shaped reversal increases the price to $0.45 with a bullish engulfing candlestick.  

Furthermore, the buyers failing to sustain the pressure results in a falling trend with lower high formations and a solid base at $0.440. Hence, the price action shows the formation of a descending triangle pattern. 

<img src="https://s3.tradingview.com/snapshots/s/swrnUjke.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/swrnUjke/">Tradingview</a> 

XRP Technical Analysis  

The retracement rally in the XRP prices shows lower price rejection from the $0.40 support level, increasing the chances of a bullish reversal. Hence, traders can find a reversal entry opportunity at current market prices. 

Analyzing the momentum indicators, the RSI slope shows a sideways trend as the price trend contracts within the triangle. Hence, a bullish divergence is evident and hints at a bullish breakout. 

Furthermore, the Stochastic RSI showcases an early bullish crossover in K and D lines in the neutral territory. Hence, the possibility of a reversal rally surpassing the resistance trendline increases significantly. 

In short, the XRP technical analysis portrays a high possibility of a bullish reversal. 

Upcoming Trend 

If XRP prices surpass $0.43 and the 50 EMA, it will inflate the market value drastically, resulting in a price jump to $0.50. However, if traders see a reversal from the resistance trendline, it will result in the retracement to $0.40 and increase the chances of a fallout rally to $0.37. 

Support Levels: $0.40 and $0.37 

Resistance Levels: $0.43 and $0.50

XRP Technical Analysis: Momentum Falls Under Descending Triangle

XRP price falls gradually under the influence of a resistance trendline, and the 50 EMA projects a high possibility of the $0.40 fallout.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

XRP Technical Analysis: Momentum Falls Under Descending Triangle

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