A classic technical setup and the US government’s commitment to only selling altcoins from its new Digital Asset Stockpile are posing a threat to XRP’s uptrend prospects.
As of March 8, XRP (XRP) faces mounting technical and fundamental pressures that suggest a possible 20% price decline in the near future. Drawing from recent market analyses and historical patterns, investors should watch three key signals.
XRP/USD is currently forming a symmetrical triangle on its weekly chart, a pattern reflecting a tug-of-war between buyers and sellers.
XRP/USD weekly price chart. Source: TradingView
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