Ripple 
$3‘s XRP remains a focal point due to its recent price movements. Although there was a short-term rise observed last week, it has yet to trigger the anticipated breakout. Experts indicate that XRP is still confined within a triangular formation, emphasizing that the search for direction continues.
Anticipating a Breakout from the Triangular Formation
XRP holds a crucial support point at the $2.39 level, playing a significant role in its price movements. While the price dipped below this mark briefly, it has been maintained for now. Analysts suggest there is a high likelihood of the price retesting this level. Moreover, the current A-B-C-D-E triangular formation is still intact, requiring a breakthrough above the $2.72 level to confirm its completion. Otherwise, the formation may evolve into a more complex structure.
Market experts note that triangular formations often result in strong upward breakouts. However, XRP’s rise from $2.20 to $2.60 this week has not yet transitioned into a sustainable breakout. Should a breakout occur, dropping below the $1.96 level could herald a new market structure.
The Significant Impact of Bitcoin and Market Dynamics
XRP’s price movements are directly influenced by Bitcoin 
$96,208 and broader market dynamics. The recent drop in Bitcoin has placed micro-level pressure on XRP. Nevertheless, this situation has not destabilized XRP’s overall market structure. Analysts believe that if the market recovers, the altcoin could display a stronger upward movement.
Conversely, XRP’s current price movements suggest that the market may also be vulnerable to downward scenarios. It is indicated that if the triangular formation continues to extend, the price could test lower levels. Still, maintaining the $2.39 level offers hope for upward movement.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
