XRP Is Primed to Break Dozens of Percent Lower as Textbook Bearish Pattern Forms

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It’s been a tough month for holders of the XRP cryptocurrency. In the past 30 days, Bitcoin has rallied 5%, Ethereum has surged 20%, and a majority of cryptocurrencies have registered gains somewhere in between the two. In contrast, XRP has actually slipped 5% lower over that same time frame, failing to be buoyed by a hot altcoin market. A number of top analysts expect this underperformance to continue, pointing to clear technical signs that the altcoin is far from bullish. XRP’s Chart Isn’t Looking Too Hot Against Bitcoin, XRP remains above the year-to-date lows by a handful of percent, but this may not last for long. A top trader shared the chart below on June 5th, showing that the cryptocurrency is in a textbook “descending triangle” formation, marked by a series of lower highs and consistent retests of a low. “XRP daily chart – Prepping for a new breakdown…

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