Ripple (XRP/USD) has continued to suffer from the bearish momentum in the cryptocurrency market. After spiking close to $1 during the summer, it quickly returned all its gains. More problematically, recent price action gives no signs of the bearish pressure easing anytime soon.
The market appears to be forming a bearish continuation pattern – a descending triangle. This hints at more downside to come, with its measured move equalling a drop to $0.4. Furthermore, this triangle might just be the right shoulder of a head and shoulders pattern. If this is the case, Ripple has much more room to the downside.
Therefore, it is important to be aware of the bearish momentum and the price patterns that are forming. Share this article to spread the word and help everyone stay informed.