XRP/USD - Descending triangle: pump to $0.40 or death?

XRP is is a very difficult spot, more so on the XRP/BTC chart (that one you don't want to look at, historic lows...).

However on USD pair, we're in an interesting spot. We've formed quite a clear descending triangle and so far any resistance we have faced pushed us lower.

The problem is that we're getting close to an apex (in the next 2-3 days) when price will have to make up its mind. Up or Down.

The BTC pair, the SEC lawsuit and the lowering volume due to exchanges not allowing US customers to trade XRP may be too much for a bullish case. So I lean onto being bearish for now.

Obviously, price will do what the market decides, but if we break down, then we have one last line of support at around .20 cents. If that falls, then, honestly, it's really bad for XRP which already dropped to no. 5 in the coin market cap ranking. Another drop in price and we may see XRP out of top 10... wow. Could anyone have predicted this?

I may buy some XRP if we reach goblin town - you never know. XRP can pump hard from under .20 cents for sure. If the lawsuit does not go totally bad, XRP still has a place in the crypto market and a price under .20 cents is really a good entry.

Time will tell, what do you think?

Like and follow if you liked this idea!