Ripple (XRP) Price Analysis 

Ripple (XRP) Price Analysis 

The price of XRP has failed to break away from its ongoing downtrend, but managed to close the week with a modest 2% gain. On the positive side, every time sellers pushed the asset lower, buyers came back around $2.8 to drive it back up.The current price action has formed a descending triangle with a base around $2.8. Should sellers break this key level, then XRP will fall lower in search of new support. The strongest candidate for that is $2.5.

Looking ahead, until XRP can make higher highs, it is unlikely this downtrend will reverse. Watch closely how the price reacts at $2.8 since a re-test of that support appears likely at the time of this post.