Crypto
XRP Breaks Above Descending Triangle Near $1.40
XRP has broken out of its descending triangle pattern after trading below a resistance line for several sessions. According to Martinez's chart, this breakout occurred near $1.40.
The token had been stuck in a sideways movement close to the lower boundary of the descending structure before buyers pushed the price above the falling trendline.
A descending triangle is typically a bearish pattern, but it can act as a bullish reversal if the price breaks upward instead of breaking down. Martinez marked the breakout area with an arrow near $1.40 on his chart.
The next key level for XRP traders to focus on is $1.70, which is close to the token's recent high. Reaching this level would take the token back toward its previous rally peak.