- XRP breaks below symmetrical triangle support at $1.35, down 1.17% to $1.3388 as bearish momentum accelerates.
- $16.62M in ETF outflows on March 6 mark largest institutional selling since early February, with cumulative flows at $1.24B.
- Open interest rises 1.35% to $2.30B while volume surges 71.81% to $3.16B, confirming breakdown with participation.
XRP price today trades near $1.3388, down 1.17% after breaking below a symmetrical triangle that had compressed price for weeks. The move places sellers in control as ETF outflows accelerate and derivatives positioning shifts bearish.
Symmetrical Triangle Breaks Down As Volume Surges
XRP 2-Hour Price Action (Source: TradingView)The 2-hour chart shows XRP breaking below the lower boundary of a symmetrical triangle (orange dotted converging lines) that formed since late February. The breakdown occurred with volume surging 71.81% to $3.16 billion, confirming the move with participation.
The Supertrend at $1.3788 sits above current price, confirming bearish momentum. The Parabolic SAR at $1.3234 provides immediate support below current levels. A descending trendline (orange dotted line) continues to cap rallies from above.
Key levels:
- Symmetrical triangle breakdown: $1.35
- Parabolic SAR support: $1.3234
- Supertrend resistance: $1.3788
- Next support: $1.30 to $1.28
The triangle breakdown projects a measured move target by taking the triangle’s height and subtracting it from the breakdown point, suggesting a potential move toward $1.28 to $1.25.
Daily Chart Shows Multi-Month Fibonacci Levels
XRP Daily Price Action (Source: TradingView)The daily chart shows XRP trading between multiple Fibonacci extension and retracement levels from the July 2025 decline. Price currently sits near the Price Forecast 1 M (PF1 M) at $1.4085, with immediate support at the PF1 0.5 S at $1.2956.
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A descending channel (blue converging lines) continues to guide price lower from the July 2025 highs near $3.70. All major EMAs remain above price, confirming the longer-term downtrend remains intact.
The R3 resistance at $1.5203 and R4 at $1.6844 represent major overhead supply zones. Breaking below the current support cluster opens the door to S3 at $1.2219 and potentially S4 at $1.0679.
ETF Outflows Hit $16.62M As Institutional Selling Extends
XRP spot ETFs recorded $16.62 million in net outflows on March 6, the largest single-day institutional selling since early February. This follows the previous day’s $6.15 million outflow, creating a two-day outflow total of $22.77 million.
Cumulative net inflows hold at $1.24 billion, representing 1.18% of XRP’s market cap. The sudden reversal from sustained inflows to consecutive large outflows signals a shift in institutional sentiment as price fails to break resistance.
Open Interest Rises 1.35% Despite Price Decline
XRP Derivative Analysis (Source: Coinglass)Open interest rose 1.35% to $2.30 billion while volume surged 71.81% to $3.16 billion. The combination of rising open interest and falling price suggests fresh short positions entering as the triangle breaks down.
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The long/short ratio on Binance sits at 2.70 for accounts and 2.89 for top traders, showing leverage remains tilted bullish despite the breakdown. This creates liquidation cascade risk if price continues lower.
Total liquidations hit $367.89K, with longs accounting for $236.64K. Options volume jumped 8.14% to $1.24M while options OI rose 1.25% to $56.47M, reflecting increased hedging activity as breakdown accelerates.
Outlook: Will XRP Go Up?
The next move depends on whether XRP can reclaim the symmetrical triangle support at $1.35 or if sellers push through the Parabolic SAR support.
- Bullish case: XRP reclaims $1.35 and the symmetrical triangle support with sustained volume. That would invalidate the breakdown and target the Supertrend at $1.3788 and potentially $1.40.
- Bearish case: XRP closes below the Parabolic SAR at $1.3234, confirming the triangle breakdown. That opens the door to the measured move target at $1.28 to $1.25, with potential continuation toward $1.22 if momentum accelerates.
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Source: https://coinedition.com/xrp-price-prediction-triangle-breakdown-drives-price-to-1-34/
