🚀 Distribution Trend Flags XRP Price Falling to $0.4: Is Decline Imminent?

📉 XRP Dips Amid Geopolitical Tensions
XRP fell to $0.56 on Friday due to selling pressure from Middle East tensions. Now testing the $0.54 support, which has held for two weeks, a breakdown could lead to a major correction, unless a Ripple vs. SEC settlement triggers a recovery.

🔄 XRP Poised to Break 2-Week Consolidation
XRP has fluctuated between $0.637 and $0.54, showing consolidation. The chart shows alternating candles, with rejection wicks indicating buyer-seller struggle. This phase occurs below a triangle pattern's resistance trendline, a barrier since September 2021.

📉 RSI and Market Sentiment
Lower highs on the RSI suggest ongoing distribution. XRP trades at $0.562, down 5.7% intraday with a $31.27 billion market cap. The SEC's meeting cancellation dampened hopes for a Ripple settlement.

🔻 Potential Breakdown and Support Levels
If selling continues, XRP could breach $0.54, turning it into resistance. A breakdown may lead to a 15% decline, targeting $0.458 and possibly $0.4.

📈 Possible Bullish Reversal
If buyers hold $0.54, supported by 50-day and 200-day EMAs, a golden crossover could boost interest. A bullish shift might propel XRP by 14%, challenging the triangle's resistance at $0.64. Breaking this could signal a trend reversal, aiming for $1.

📅 Anticipation of Ripple vs. SEC Settlement
The August 8 settlement date could impact XRP's price trajectory, potentially resolving the long-standing legal dispute.