XRP Breaks Below Symmetrical Triangle, Eyes $1.14 Support: Analyst

Symmetrical Triangle Breakout

XRP broke below the rising support line of a symmetrical triangle formation that began in January, according to analyst Ali Martinez in a May 23 post. The pattern consists of lower highs (descending resistance) and higher lows (ascending support) that converged as the price oscillated between $1.29 and $1.55 over the past month. The breach of the ascending trendline places XRP below a key support level and exposes it to deeper downside targets.

Downside Targets

Martinez projected that accelerating selling pressure could drive XRP to $1.14, roughly 16% below the breakout point. This target represents the lower boundary of XRP's month-long consolidation range. The altcoin has declined more than 5% over the past week amid broader market weakness, though XRP's directional losses remain smaller than some peers.

Consolidation Context

Symmetrical triangles typically form during periods of indecision, as buyers defend higher lows while sellers push in at lower highs. Once the price breaks decisively through one of these trendlines, the compression gives way to directional movement. In XRP's case, the downside break suggests the consolidation phase is ending with sellers in control.