XRP Testing Key Support – Could This Pattern Prevent Further Decline?

Date: Wed, April 09, 2025 | 05:36 AM GMT The cryptocurrency market has witnessed another sharp fall in the past 24 hours due to renewed tariff tensions triggered by former President Donald Trump. As a result, Bitcoin (BTC) and Ethereum (ETH) are down by 3% and 8%, respectively. Among the altcoins, XRP also took a hit — declining by over 4% in the last day and extending its weekly drop to around 13%. This decline has brought XRP to a critical technical point: it’s now testing a key support level that may determine its short-term future.

Source: Coinmarketcap Testing Support of Symmetrical Expanding Triangle Pattern On the daily chart, $XRP continues to trade under pressure after confirming a bearish Head and Shoulders pattern earlier this week, which is still in play. However, a new technical formation has emerged that may give bulls a reason to watch closely — a symmetrical expanding triangle.

XRP Daily Chart/Coinsprobe (Source: Tradingview) XRP tested the lower boundary of this triangle around $1.61 on Monday and has been hovering just above that level since. This zone is crucial, not only because it’s near the triangle support, but also due to the confluence with the 200-day moving average (200 MA) and 50-day MA, adding weight to its importance. If XRP can hold this zone and bounce back above $1.85, reclaiming the 50 MA, and then break through the $2.30 resistance around the 200 MA, it could flip the sentiment and trigger a recovery rally — with upside potential toward the $3 mark. What’s Next? All eyes are now on how XRP behaves in the coming days. Will it defend this crucial support and reverse, or will the expanding triangle break down under pressure? With macroeconomic tensions still looming and market volatility high, traders should proceed cautiously. Key Support: $1.61 Resistance to Watch: $1.85 (200MA), $2.30 (50MA) Bullish Confirmation: Break above 200 MA Bearish Risk: Drop below expanding triangle support Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.