Crypto trader and Bitcoin investor Crypto Michael has provided a new update on XRP’s descending triangle formation, with his latest chart showing how the cryptocurrency broke below a major ho
Crypto trader and Bitcoin investor Crypto Michael has provided a new update on XRP’s descending triangle formation, with his latest chart showing how the cryptocurrency broke below a major horizontal support level and continued its decline.
The technical setup previously showed XRP trading within a narrowing structure, but the latest price action has taken the asset considerably lower, raising questions about the pattern’s development and the analyst’s earlier market outlook.
Crypto Michael described the chart as an “XRP descending triangle update.” His accompanying four-hour XRP/USD chart from Binance illustrates a descending resistance line connecting progressively lower highs, alongside horizontal support around $1.25.
XRP descending triangle update https://t.co/xSPLoX3E4dpic.twitter.com/GB3HsIvoda
— Crypto Michael (@MichaelXBT) November 14, 2026
The chart shows XRP consolidating between these two boundaries from late September into early November. During this period, the descending resistance line repeatedly limited upward movements, while the $1.25 region served as a major support level.
However, XRP eventually lost that horizontal support in early November. The breakdown triggered further selling, with the price moving progressively lower instead of recovering above the former support level.
The chart shows XRP trading around $0.9886 when Crypto Michael published the update. This places the cryptocurrency well below the $1.25 level that previously supported its price action. The latest movement also shows that XRP has fallen below the $1 mark.
Crypto Michael’s update also received criticism from some users who questioned his previous outlook on XRP.
Zdenek Steiner challenged the analyst over an earlier bullish prediction, writing, “Oh man … You were 100% sure XRP will explode up – just few weeks ago. What happened? Why you were so “textbook wrong” ?” He also questioned why Crypto Michael had not addressed the earlier prediction and acknowledged the outcome.
Another user, responding to Steiner, suggested that the analyst could claim either direction as a potential breakout to avoid responsibility for an incorrect prediction.
JayDee offered a different perspective on the chart analysis. The user commented that traders should initially describe the formation simply as a triangle when its direction remains uncertain, then identify it as ascending or descending after the price breaks out.
This comment addressed the importance of waiting for confirmation before assigning a directional outcome to a chart pattern.
Not all the comments focused on Crypto Michael’s earlier outlook. ThechosenOne presented a more bearish prediction for XRP, suggesting that the cryptocurrency could fall considerably further before recovering.
The user wrote, “They reaching old holders at 0.5-0.3 Just wait we going to this price soon. And after we pump”
This prediction places XRP’s potential downside between $0.30 and $0.50, considerably below its price at the time of Crypto Michael’s update.
Crypto Michael’s latest chart documents XRP’s breakdown from the descending triangle’s support area. However, his brief update does not provide a new downside target or specify when he expects the cryptocurrency to recover.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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