XRP has been on a consistent downward trend since the beginning of the week ending on March 30, 2025. A steady flow of consecutive bearish candles on the daily timeframe has pulled the price lower each day, eventually guiding it toward an important support level at the time of writing. As of now, XRP is pressing against the lower boundary of a symmetrical triangle, which could determine whether this dip becomes a deeper fall or the start of a rebound for the cryptocurrency.
The symmetrical triangle on XRP’s daily chart is not a new pattern, but the way its price is currently interacting with its lower trendline is setting the stage for what could be a significant move. This phenomenon was noted by a crypto analyst on the TradingView platform, who highlighted this technical zone as a critical decision point for XRP. The symmetrical triangle has been forming gradually since January 2025, with the price oscillating between a sequence of lower highs and higher lows. This has led to a tightening range that hints at an impending breakout or breakdown.
The pattern’s base support line has been tested on three separate occasions over the past couple of months, each time resulting in a bounce upward. However, the persistence of retests also means the current retest might be broken easily. If XRP manages to hold its ground at this support level and attract buying interest, a bounce could be on the cards. A successful rebound from this trendline might trigger a move toward the triangle’s upper boundary, which is acting as resistance. Such a rally wouldn’t just keep the triangle intact, but it could also bring in bullish sentiment after four weeks of selling pressure.
Still, the strength of any bounce will likely hinge on the accompanying trading volume. A bounce without strong trading volume could result in a fake breakout. However, the opposite scenario is just as likely. If XRP closes the daily candlestick below this support level, it would confirm a breakdown from the triangle structure, opening the door to further downside. As the analyst noted, “losing support may lead to further downside pressure.” A breakdown would not only invalidate the consolidation structure but could also trigger stop-loss orders below support. Given the lack of immediate strong support beneath the current zone, XRP might face a strong decline to $2 if the support level fails to hold.
At the time of writing, XRP is trading at $2.18, having increased by 3.8% in the past 24 hours. Interestingly, the price dipped slightly below the lower boundary of the triangle earlier on March 30, 2025, but was quickly met with buying pressure, pushing the price action back into the triangle’s range. This small yet important action shows that bulls are still active at this level.
Meanwhile, in the world of Pepe (PEPE) tokens, a prominent trader is experiencing an unrealized loss of an astounding $3.36 million on a leveraged long position. The trader used Hyperliquid to go all in on PEPE with a 10x cross-margin leverage. He entered the token at $0.0000814 and is now keeping an eye on it hovering around $0.0000720, a significant divergence that could lead to liquidation.
At its height, the position's value was approximately $27.4 million or more than 378 billion PEPE tokens. Given PEPE's poor price performance and brittle market structure, the liquidation price is set at $0.020, which is dangerously close. In an effort to evade the impending liquidation, the whale partially closed approximately 67 million tokens and injected an additional $3.08 million USDC across several deposits, recovering nearly $490,000.
However, the PEPE market is exposed to significant volatility risks due to this degree of pressured activity. Technically speaking, PEPE has not maintained its prior breakout. It abruptly reversed, printing red candles with increasing sell volume after testing resistance close to the 50 EMA. According to the current chart, PEPE is having difficulty staying above the $0.0000700 support, which is a crucial psychological level that distinguishes a partial trend breakdown from a major recovery.
The RSI is trending below 50, indicating that bears are taking charge. Additional position closures could occur if the whale experiences further drawdown, which could flood the market with tokens and further suppress the price. As a ticking volatility bomb, the entire cryptocurrency community is now keeping an eye on this address. If the whale's plan fails and liquidation is initiated, the ensuing sell pressure may push PEPE down to levels seen in November 2024. Conversely, any positive momentum from PEPE could enable this position to bounce back.
For the time being, this wallet is a focal point of market uncertainty due to the whale's loss and obvious desperation. PEPE traders are advised to take caution, as turbulence is expected soon.
