XRP by the end of last July has been in a downward trend, and today I was watching TikTok when someone said that this currency will drop to a dollar and a quarter and then rise to high prices. I do not know how he concluded this number unless he is knowledgeable about market makers and this currency or has a sixth sense. So I thought I'd look at the chart and lay out all the analytical possibilities and see if it really will drop to this price. From the daily chart, we find the shape is forming a triangle of peaks in decline while the troughs are in a slight increase since July 25. I will outline the scenarios that I believe the currency will follow. First, the currency will touch the first support line at approximately 2.74 and then rebound, but if it breaks this support, there is another support at approximately 2.48, and if it also hypothetically breaks this support, there are some supports until we reach 1.607.
The other scenario is that the currency may touch the first support as in the picture and then rebound towards more than 4 dollars, and God knows best.