XRP is currently forming a descending triangle pattern, which historically leads to bearish outcomes more than half the time. A crucial support level between $1.80 and $2.00, if broken, could see XRP's price declining towards the $1 level. Analysts like Milkybull Crypto and Gordon have identified this pattern, suggesting a potential upside target of $3.35 if the price breaks upward. However, data indicates that descending triangles typically result in bearish breakdowns about 54% to 70% of the time in the cryptocurrency market. Misinterpretation of these patterns can lead to false expectations; unlike falling wedges, descending triangles showcase aggressive selling pressure. This is echoed by prior patterns from 2021-2022 when a similar configuration resulted in significant price drops. Despite these bearish indicators, positive factors such as a potential resolution in the SEC vs. Ripple lawsuit could still ignite a rally for XRP.

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