According to CryptoPotato, Ripple's price is indicating a potential bearish move after weeks of consolidation. The USDT paired chart against USDT shows that XRP has been consolidating within a symmetrical triangle pattern for the past few months, following a drop below the 200-day moving average. Despite a sudden market drop on Friday, the price has managed to recover more than half of its losses. However, the daily candle closed below the triangle pattern, and with the RSI also falling below 50%, the momentum seems to favor a bearish move. If the $0.5 level breaks down, a drop towards the $0.4 support zone is highly likely.
The XRP/BTC pair presents an even more concerning picture. The price has been on a downward trend since November of the previous year, with no signs of stopping. The market recently failed to break above the 800 SAT resistance zone, initiating another bearish move. The 600 SAT support level appears to be a probable short-term target as XRP continues to depreciate against BTC. However, investors should monitor the RSI as it has entered the oversold region, which could potentially lead to a recovery in the upcoming weeks.
