XRP Price Breaks Below Key Technical Level Amid Renewed Downside Pressure

XRP has been under pressure since breaking below a tightening symmetrical triangle structure, with support levels at $1.31 and $1.17 emerging as key targets.

The token's price is currently hovering around $1.34-$1.37, but analysts warn that the breakdown of the triangle does not automatically confirm a prolonged bearish trend.

A recovery above the broken trendline and the $1.43-$1.45 resistance area could weaken the bearish setup, while holding the $1.31 area would give the price an opportunity to stabilize after the triangle breakdown.

The technical indicators remain mixed, with some suggesting short-term pressure, while others indicate support from intermediate-term averages.