XRP/USD gearing up for a leg lower?XRP / US DollarCOINBASE:XRPUSDFPMarketsWe have an interesting technical picture building on XRP/USD (Ripple versus the US dollar). First and foremost, the unit has been trending lower since logging highs of US$3.6662 in mid-2025, offering trend followers clear sell-rally scenarios to work with. In addition to this bearish picture, the beginning of February witnessed price begin carving out a bearish pennant pattern between US$1.1180 and US$1.6705. Another bearish point is that price is now below both the 200- and 50-day SMAs at US$1.8092 and US$1.3919. Finally, you will also acknowledge that following the most recent rebound from the pennant pattern’s support, price failed to reach the opposing pennant resistance, signalling a lack of strength on the side of the bulls. Given all of the above, a breakout below the pennant pattern’s structure could open the door to lows of US$1.2775, with a break below here perhaps triggering further downside to as far south as support from US$1.1063. Written by FP Markets Chief Market Analyst Aaron Hill