XRPUSD 4H: Key Triangle Breakdown Leads to $2.70 TestXRPCRYPTO:XRPUSDManiMarketsXRPUSD 4H: Key Triangle Breakdown Leads to $2.70 Test Chart Overview: On the 4-hour timeframe, XRP (XRP/USD) has seen a significant shift in market dynamics. After an attempt to establish a bullish continuation pattern within a symmetrical triangle, the price has broken down decisively, indicating a strong return of bearish pressure. Recent Price Action: XRP made a notable high around the 3.10 to 3.20 Key Resistance zone in mid-September, which proved to be a strong ceiling. Following this rejection, price consolidated, forming a symmetrical triangle pattern (outlined by the green trendlines). Within this consolidation, XRP attempted to push past the 3.00 Immediate Resistance multiple times but was consistently rejected. The lower boundary of the green triangle provided temporary support, allowing for bounces. However, the critical event occurred recently when XRP broke down decisively below the ascending trendline of this triangle. This breakdown was accompanied by strong selling pressure, pushing the price through the 2.90 to 2.95 zone, which previously offered some support. Most recently, XRP retested the 2.8 to 2.85 zone (highlighted in blue), which was a prior support level. This retest saw a clear rejection, confirming this zone has now flipped into resistance. The current price action indicates a continuation of this bearish momentum, with price now heading towards the crucial 2.700 support level. Key Resistance Levels to Watch: 2.8 to 2.85: This is the immediate overhead resistance. Bulls would need to reclaim this level to show any signs of a short-term recovery. 2.90 to 2.95: A more significant structural resistance, having served as a pivot point. A move above here would start to challenge the current bearish trend. 3.00 Immediate Resistance: This psychological and structural level was repeatedly tested and rejected during the triangle consolidation. It represents a formidable barrier for any significant bullish reversal. 3.10 to 3.20 Key Resistance: The highest point of the prior rally and the top of the range. A return to this level would signal a major bullish resurgence. Key Support Levels to Monitor: With XRP currently trading around 2.73, the focus is squarely on immediate support: 2.700: This is the most immediate and critical support level. It previously acted as a strong bounce area and will be closely watched. A decisive break below 2.700 could trigger further downside. 2.500: Should 2.700 fail to hold, the 2.500 level is the next significant structural support. This would represent a deeper correction, and traders will look for signs of stabilization here. Outlook & Scenarios: Bearish Scenario: If XRP fails to find significant support at the 2.700 level and breaks decisively below it, we can anticipate a continued downtrend towards the 2.500 support. Further weakness below 2.500 would indicate a more prolonged bearish phase. Bullish Scenario: For bulls to regain control, XRP needs to first stabilize at 2.700 and then make a concerted effort to reclaim the 2.8 to 2.85 and 2.90 to 2.95 resistance zones. A clear move back above these levels, potentially challenging the 3.00 resistance, would signal a potential reversal or a return to range-bound consolidation. Conclusion: XRP is currently facing strong selling pressure on the 4-hour chart following a breakdown from a key symmetrical triangle pattern. The market is at a critical juncture, testing the 2.700 support level. Traders should remain vigilant and watch for a reaction at this level, as its breach could open the door to further declines towards 2.500. Conversely, any significant rebound would need to overcome several layers of resistance to negate the current bearish outlook. Disclaimer: The information provided in this chart is for educational and informational purposes only and should not be considered as investment advice. Trading and investing involve substantial risk and are not suitable for every investor. You should carefully consider your financial situation and consult with a financial advisor before making any investment decisions. The creator of this chart does not guarantee any specific outcome or profit and is not responsible for any losses incurred as a result of using this information. Past performance is not indicative of future results. Use this information at your own risk. This chart has been created for my own improvement in Trading and Investment Analysis. Please do your own analysis before any investments.