Over the last week, the XRP market endured a dominantly bearish mood. During this time, the altcoin\u2019s price declined by more than 5% amid general market struggles. A broader overview shows that XRP has remained range-bound between $1.29 and $1.55, with this range stretching back to February. However, recent technical developments on the daily chart pattern indicate an impending market sell-off to end this month-long consolidation and establish a deeper decline in this bear market.<\/p>\n
In trading analysis, a symmetrical triangle is created when the price forms a series of lower highs (descending resistance line) and higher lows (ascending support line). These two trendlines converge, forming a triangle. This chart formation usually represents indecision and compression in the market, as buyers are stepping in earlier each time (higher lows) and sellers are stepping in sooner each time (lower highs).<\/p>\n
In an X post<\/a> on May 23, Ali Martinez shares that XRP has broken out of a symmetrical triangle on its daily chart. The altcoin recently breached the rising trend line of this chart formation, which started in January. This means XRP is now below a key support level and is exposed to deeper downside targets. According to the seasoned analyst, an acceleration in selling pressure would likely pull XRP down to around $1.14, i.e., a 16.17% loss from current market prices.<\/p>\n Breakout confirmed on $XRP<\/a>.<\/p>\n Here\u2019s where I believe price could be heading next. https:\/\/t.co\/veSQEHS4aM<\/a> pic.twitter.com\/KqwPOGCZdB<\/a><\/p>\n \u2014 Ali Charts (@alicharts) May 23, 2026<\/a><\/p>\n\n \u00a0<\/p>\nXRP Market Glance \u2013 Whales Step Out<\/strong><\/h2>\n