An analysis said XRP is again showing a symmetrical triangle pattern similar to what preceded a strong rise in 2017 to 2018.

On July 24, blockchain outlet The Crypto Basic reported that XRP has recently shown a pattern similar to the symmetrical triangle seen ahead of a large past rally, even as it remains in a long-term downward correction.

The key question is whether the current decline signals a breakdown of the long-term bullish structure or a typical pullback after a breakout. XRP moved for a long time within a symmetrical triangle after a peak of $0.0614 in December 2013, then broke above the upper resistance line in March 2017 and rose more than 66,000 percent from about $0.005 to $3.31 in January 2018.

This time, the pattern formed over a longer period. The current triangle structure was created after the January 2018 peak of $3.31, and XRP stayed within that range for years before breaking above the upper resistance line in a November 2024 rally. After that breakout, the price surged from about $0.5 and hit an all-time high of $3.6 in July 2025.

The uptrend did not continue immediately. After forming the peak, XRP entered a sharp correction and was pushed back to near the previous breakout zone and the rising trendline support. The current move is seen as a test of whether the long-term structure holds. The market is focusing on the view that the price remains weak and much of the prior rally’s strength has faded.

Technical indicators are also drawing attention. The monthly relative strength index fell to 41.85, entering oversold territory. That level is close to a zone that previously saw long-term buying interest in XRP. Still, it is difficult to conclude an immediate rebound based on RSI signals alone. Some in the market see volatility continuing for a while, with further retests of support possible.

Some also point to similarities between this correction and the period right after the 2017 breakout. After breaking above the top of the triangle in March 2017, XRP fell to $0.0075 in April that year, retesting the upper trendline. It then resumed its rise after confirming support there and eventually climbed to $3.31 in January 2018.

The zone market participants are watching most closely is $0.70 to $0.83, with $0.82 presented as the key level. That zone overlaps with the upper trendline of the long-term symmetrical triangle. If XRP holds above it, the long-term breakout structure could survive, but if it fails to defend the level, the correction phase could last longer.

Accordingly, more important than whether there is a short-term rebound is defending support and maintaining the structure. Whether XRP’s current weakness ends as a pre-rally consolidation as in the past, or leads to a long-term trend shift, is expected to be determined in the $0.70 to $0.83 zone.