The XRP price continues to draw attention as market analyst, Ali Charts, warns of a potential retest toward $2.72. His observation comes at a time when the U.S. government shutdown has created fresh uncertainty around the SEC’s approval timeline for XRP spot ETFs. This combination of technical weakness and regulatory delay is fueling renewed caution across the market, with many eyeing the lower boundary of the current triangle pattern as the next critical zone.
XRP Price Action as Triangle Pattern Signals Looming Breakdown
As the analyst notes, the XRP price has been moving within a descending triangle formation since late July, characterized by lower highs converging toward stable horizontal support near $2.72.
This pattern often indicates an impending breakdown, especially when accompanied by declining trading volume. The chart suggests that sellers are gradually tightening control, with each rebound facing heavy rejection at the descending trendline.
The current XRP market price trades at $2.86, reflecting a near 4% daily decline. Notably, repeated failures to break above the $3.00 resistance reinforce the short-term bearish outlook.
Meanwhile, the lower wicks around the $2.80 zone highlight buyer attempts to defend the structure’s base. However, unless XRP breaks above the descending trendline convincingly, the probability of a retest at $2.72 remains high.
Technically, the pattern’s measured move points to potential downside continuation if the horizontal floor gives way. Therefore, traders should watch for a confirmed daily close below $2.75 as a signal that bears have fully regained dominance.
XRP/USDT 1-Day Chart (Source: X)Government Shutdown Threatens ETF Progress and Market Confidence
The prolonged U.S. government shutdown has introduced significant headwinds for ETF progress. Lawmakers’ failure to agree on a spending bill has halted several regulatory operations, including the SEC’s review process for pending S-1 filings.
As a result, XRP spot ETF applications face uncertainty, potentially extending decision deadlines beyond the originally expected window. This delay undermines investor confidence at a time when market sentiment was beginning to recover.
The shutdown has also delayed legislative progress on financial reforms such as the CLARITY Act, highlighting how regulatory paralysis is spilling over into the crypto sector. These disruptions have weakened short-term investor confidence, extending XRP’s consolidation phase below key resistance levels. Until Washington resolves the standoff and restores normal review processes, XRP may find it difficult to regain traction above the $3.10 region.
In conclusion, both technical and macro factors appear aligned toward a cautious short-term outlook. The XRP price remains constrained within a bearish triangle, and a confirmed breakdown could lead to a $2.72 retest as predicted by the analyst. The ongoing U.S. government shutdown further complicates recovery prospects, delaying the ETF greenlight that many investors hoped would lift sentiment.
Source: https://coingape.com/markets/xrp-price-prediction-amid-etf-approval-roadblock-as-analyst-warns-of-2-72-dip/
