[DigitalToday reporter Yoonseo Lee (이윤서)] XRP has broken below the lower support line of a symmetric triangle, increasing short-term downside pressure.

On May 21 (local time), blockchain media outlet The Crypto Basic said market analyst Cryptorphic pointed to $1.21 as XRP's next key support level.

The break came during a recent correction. In the cryptocurrency market rebound that has continued since late April, XRP kept rising, setting higher highs at $1.45 on May 6, $1.50 on May 10 and $1.54 on May 14. The $1.54 level was an area where XRP re-tested the upper trendline of the symmetric triangle, but it failed to overcome resistance.

As the broader market's upward momentum weakened, XRP was pushed back. XRP fell 3.43 percent on May 15 alone, and the decline continued to around $1.34 by May 20. In the process, the lower support line of the symmetric triangle gave way.

Cryptorphic said the breakdown was not a good signal for buyers. He said XRP recently tried to break higher during the market rebound, but lacked the strength to clear the upper resistance line. He also warned that while a major move can emerge as price compression nears its peak, the structure looks weak and a downside break could allow sellers to take control.

The key issue now is whether the lower trendline turns into a resistance line. If XRP breaks back above it and returns inside the triangle, the bearish move could be invalidated. If it fails to regain the lower line, selling pressure could be confirmed and the drop could deepen.

Cryptorphic said in that case the next key support lies near $1.21. That level overlaps with an important horizontal support zone. He said the price could fall about 12 percent more from current levels.

The symmetric triangle formed as XRP rebounded after plunging from a January high and hitting a $1.10 low in early February. Since then, highs and lows have gradually narrowed, reducing price volatility. In an analysis on May 11, Cryptorphic said at the time XRP had not yet produced a clear breakout or breakdown, but had almost no room left to move.

XRP has rebounded slightly from a $1.34 low and is trading near $1.38. Technically, whether it can move back above the broken lower trendline remains a factor that will determine the short-term direction.

The break is interpreted as meaning downside risk has emerged first after XRP stayed in a price compression zone. A symmetric triangle is generally seen as a period when buying and selling forces confront each other within a narrow range before a direction is set. After a break below the lower line, quickly reclaiming that trendline becomes a key condition for reversing the short-term bearish signal.

Still, XRP's short-term trend is expected to be influenced not only by its own chart but also by risk appetite across the broader cryptocurrency market. As it failed to clear upper resistance during the recent rebound, XRP may struggle to stage an independent recovery if moves in major assets such as bitcoin weaken. If buying returns across the market and XRP reclaims the broken trendline, there is still room to view the break as a temporary shakeout.

#XRP has now broken down below the lower trendline support of the ascending triangle, which is not a good sign for bulls. The recent breakout attempt failed, and price is starting to lose momentum after rejection from the major resistance area. As long as XRP stays below this… pic.twitter.com/fqfELtGAHb