Ripple [XRP] – Could THIS bearish pattern drive prices to $2.60?

Key Points

1. XRP is forming a bearish Inverted Cup and Handle Pattern near $2.95, with a potential 13% drop to $2.60 if support fails.

2. The asset has dropped nearly 20% from its July highs, with trading volume down 17%, indicating reduced trader engagement.

3. Key support levels to watch are $2.55 and $2.40, as highlighted by analyst Ali Martinez.

4. Despite the bearish pattern, the Supertrend indicator remains green, suggesting some bullish signals.

5. On-chain data shows $88 million in XRP outflows from exchanges in 48 hours, indicating long-term holder confidence.