Latest Xrp Price At Risk Of A 25% Drop To $1.55: Is Why

XRP ledger activity has slumped over the past four months, increasing the downside prospects for XRP price to drop to $1.55.

XRP validates a bearish descending triangle, risking a 25% drop to $1.55.

A bearish divergence from the weekly RSI points to increasing downward momentum.

Low daily active addresses signal muted network activity and liquidity, amplifying XRP sell-off risk.

XRP price traded 11% below its value a week ago, and a convergence of several data points signals a deeper correction toward $1.55.

The XRP (XRP) price chart confirmed a descending triangle pattern on its eight-hour chart since dropping below the $3 psychological level in October.

A descending triangle chart pattern — characterized by a flat support level and a downward-sloping resistance line —  resolves when the price breaks below the flat support level and falls by as much as the triangle’s maximum height.

Related: XRP ‘structurally fragile’ as 41.5% of supply at a loss

The XRP/USD pair confirmed the descending triangle when it dropped below the support line of the pattern at $2.20 on Monday.

The bulls are fighting to keep XRP above the $2 support. A breakdown of this level will likely see XRP price fall toward the measured target of the triangle at $1.55 by the end of November, representing a 25% decline from current price levels.

Source: CoinTelegraph